The General Insurance Corporation of India reported a 10% increase in standalone net profit for the June quarter, buoyed by boosted other income and a reversal of premium-deficiency provisions amidst stable premium income.
General Insurance Corporation of India said its standalone net profit rose 10% year on year to ₹1,922 crore in the June quarter, helped by stronger other income, a reversal of a previously recognised premium-deficiency provision and lower claims paid.
The reinsurer’s net premium earned was broadly unchanged at ₹11,081 crore, while investment income slipped about 4% to ₹2,171 crore. Other income climbed sharply to ₹77.45 crore from ₹2.68 crore a year earlier, offsetting some of the weakness elsewhere in the account.
Net commission paid increased 29% to ₹2,387 crore, but claims paid fell about 8% to ₹7,287 crore. GIC Re also recorded a ₹53.30 crore reversal of premium-deficiency provision, compared with a ₹50.90 crore charge in the same quarter last year, which helped trim the underwriting loss to ₹801 crore from ₹910 crore.
The company’s investment book rose 2% to ₹1,48,378 crore. The quarterly figures follow a stronger full-year performance in FY26, when The Insurer reported that GIC Re cut its underwriting loss by nearly half, improved its combined ratio and lifted profit after tax by 25%, underscoring a gradual improvement in underwriting discipline even as the business remains exposed to volatile claims and investment returns.
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