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Reinsurer GIC Re's Q1 profit jumps 69% to ₹1,752cr
GIC Re, India's top state-owned reinsurer, just posted a huge 69% jump in net profit for April-June, reaching ₹1,752 crore (up from ₹1,036 crore last year).
Even though gross premiums dipped a bit, total income climbed to ₹13,352 crore.
Basically: they're making more money even with slightly fewer sales.
The company's solvency ratio stands at 3.85
GIC Re managed to shrink its underwriting losses this quarter and strengthened its financial safety net—its solvency ratio is now even higher at 3.85.
The company also grew its assets and net worth. As the leader in India's reinsurance scene, these wins put GIC Re in an even stronger spot.
If you're curious about how big finance shapes everyday insurance or want to see how Indian companies are leveling up globally, this is one to watch.