GIC Re Reports Significant Profit Surge in First Quarter of 2025

GIC Re, the state-owned reinsurance giant, announced a commendable 69% increase in net profit for the first quarter ending June 2025, amounting to Rs 1,752 crore. This uplift comes despite a minor reduction in gross premiums following IRDAI's revisions in accounting practices last October.

The reinsurance stalwart's total income rose sharply to Rs 13,352 crore, compared to Rs 11,964 crore during the same period last year. Furthermore, its underwriting loss was reduced from Rs 1,289 crore to Rs 907 crore, signaling a robust approach in financial management even amidst industry accounting shifts.

Reflecting financial stability, GIC Re's solvency ratio saw a rise to 3.85 from 3.36 the previous year, and total assets increased to Rs 1,97,540 crore. The net worth also registered growth, ascending by 4.17% to Rs 89,513 crore. As the leading player in India's reinsurance domain, GIC Re continues to dominate treaty programs and facultative placements across the domestic market.

(With inputs from agencies.)