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General Insurance Corporation of India (GICRE) investor relations material
General Insurance Corporation of India Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Gross premium income for Q3 FY26 reached INR 10,986.55 crore, up from INR 9,967.71 crore year-over-year.
Consolidated gross premiums written for the nine months ended December 31, 2025, rose to ₹33,20,685 lakhs, up from ₹31,20,925 lakhs year-over-year.
Net profit after tax for the nine months was ₹6,62,217 lakhs, compared to ₹4,61,010 lakhs in the prior year period.
Holds 52% market share in Indian reinsurance, ranking 9th globally with presence in 137 countries.
Solvency ratio improved to 3.87 as of December 2025, up from 3.52 a year earlier.
Financial highlights
Gross Written Premium (GWP) rose to INR 41,154 Cr in FY24-25 from INR 37,182 Cr in FY23-24.
Investment income for Q3 FY26 was INR 2,924.47 crore, up from INR 2,627.17 crore year-over-year.
Combined ratio improved to 105.32 for the quarter and 105.42% for the nine months, down from 110.29% year-over-year.
Net worth (excluding fair value change) rose to INR 48,490.40 crore; including fair value change, it reached INR 92,056.08 crore.
Earnings per share (not annualized) for the nine months stood at ₹40.64, up from ₹28.12 year-over-year.
Outlook and guidance
Management maintains guidance of 1% annual improvement in combined ratio on a composite portfolio basis.
Growth is expected to mirror the Indian reinsurance market, with a medium-term annual growth rate of 8%-10%.
Focus on international portfolio diversification, new product areas, and building catastrophe reserves.
The group continues to maintain an 'A- (Excellent)' Financial Strength Rating and 'a- (Excellent)' Long-Term Issuer Credit Rating from AM Best, with a stable outlook.
Management notes that quarterly results are not indicative of full-year performance due to industry seasonality.
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