New Delhi, May 26 (PTI) GIC Re on Monday posted a 17 per cent decline in net profit to ₹2,183 crore for the fourth quarter ended March 2025.
The state-owned reinsurance company had earned ₹2,642 crore in the same quarter in the previous financial year.
During the quarter, the company collected a gross premium of ₹10,367 crore against ₹8,724 crore in the year-ago period, GIC Re said in a filing.
Total income of the re-insurer rose to ₹11,364 crore in the March quarter compared to ₹9,222 crore in the same quarter a year ago.
During the quarter, the company booked an underwriting loss of ₹392 crore as against a profit of ₹570 crore in the same period a year ago.
The board recommended a dividend of ₹10 (or 200 per cent) per equity share on the face value of ₹5 each for 2024-25, subject to the approval of the shareholders.
For the full fiscal, GIC Re recorded a 3 per cent rise in net profit to ₹6,701 crore from ₹6,497 crore in the preceding financial year.
Gross Premium Income of the company improved to ₹41,154 crore for the year ended March 2025 as compared to ₹37,182 crore for FY24.
The solvency Ratio increased to 3.70 from 3.25 at the end of March 2024.
Total assets of the company rose to ₹1,87,616 crore against ₹1,78,286 crore in the previous year.
GIC Re is the largest reinsurer in the domestic reinsurance market in India and leads most of the domestic companies’ treaty programmes and facultative placements.
