Public sector reinsurer GIC Re reported net profit for the half-year ended September slid 8% to ₹2,336.87 crore from ₹2,549.65 crore within the year-earlier interval.
Gross premium earnings rose to ₹19,679.85 crore from ₹19,122.45 crore. Underwriting loss surged to ₹3,029.04 crore from ₹1,696.07 crore. Investment earnings at ₹5,555.91 crore for half 12 months ended was extra in contrast with ₹5,096.75 crore a 12 months in the past.
Total belongings had been at ₹1,67,640.89 crore in contrast with ₹ 1,53,384.76 crore a 12 months earlier.
The firm’s consolidated net profit for the half 12 months stood at ₹2,666.60 crore as in contrast with ₹ 2,945.89 crore within the year-earlier interval, down 9%.
Consolidated gross premium earnings of the corporate was ₹19,962.02 crore for the half 12 months in contrast with ₹19,367.00 crore.
Investment earnings of the group was ₹5,590.37 crore as in contrast with ₹ 5,111.19 crore a 12 months in the past.
The group’s net price (with out honest worth change account) for the half 12 months was at ₹36,498.86 crore in contrast with ₹ 31,091 crore in the identical interval final 12 months.
