GIC Re sees profit surge 24% YoY in H1 2024

Meanwhile, underwriting loss reduced to ₹2,376.95 crore.

General Insurance Corporation of India Re’s half-year ending 30 September profit after tax stood at ₹2,897.12 crore, up 24% from ₹2,336.87 crore a year earlier.

Gross premium income increased to ₹20,819.16 crore, up from ₹19,679.85 crore in the same period last year.

Meanwhile, underwriting loss reduced to ₹2,376.95 crore from ₹3,029.04 crore in the previous year.

Investment income rose to ₹6,242.32 crore compared to ₹5,825.38 crore in the prior year.