GIC Re Result Second Quarter 2018

Published On: November 13th 2018 at 5:55 PM

• Growth in Gross Premium Income of the company was 11.1 % with premium of Rs.7,117.40 crore for the Half Year ended 30.09.2018 from Rs 24,404.37 crore in the previous Half Year ended 30.09.2017.

• Investment Income for the Half Year ended 30.09.2018 was higher at Rs. 3,283.76 crore as compared to Rs.2,417.81 crore for the Half Year ended 30.09.2017, showing a growth of 35.8%.

• Net Worth of the company (without fair value change account) increased by 14.8% to Rs. 21,297.78 crore on 30.09.2018 from Rs. 18,549.91 crore on 30.09.2017.

• Growth in net worth (including fair value change account) was 3.6% at Rs. 51,266.29 crore on 30.09.2018 as against Rs. 49,496.10 crore as on 30.09.2017.

• Profit After Tax (PAT) for the half year ended 30.09.2018 recorded as Rs. 1,285.27 crore compared to Rs. 771.42 crore for the first quarter ended 30.06.2018.

• Return on Equity (ROE) (unannualized), is increased to 6% for the half year ended 30.06.2018 as compared to 3.5% in the first quarter ended 30.06.2018.

• Solvency Ratio of 1. 73 as on 30th September 2018, which is above the minimum required Solvency Ratio of 1.50.

• Total Assets increased by 10.7 % from rs.107,034.55 crore as on 30.09.2017 to Rs. 118,502.88 crore as on 30.09.2018.