General Insurance Corporation of India announced Q1FY24 results:
- Gross Premium Income of Rs 8,917.71 crore for Q1FY24 as compared to Rs 11,021.83 crore for Q1FY23.
- Underwriting Loss is Rs 1,557.44 crore for Q1FY24 as compared to Rs 776.29 crore for Q1FY23.
- Investment Income is Rs 2,454.94 crore for Q1FY24 as compared to Rs 1,890.43 crore for Q1FY23.
- Solvency Ratio is 2.88 as on June 30, 2023, as compared to 2.14 as on June 30, 2022.
- The company recorded Profit Before Tax of Rs 935.18 crore for Q1FY24 compared to Rs 988.71 crore for Q1FY23.
- Profit After Tax for Q1FY24 recorded as Rs 731.79 crore as compared to Rs 689.72 crore for Q1FY23.
- Total Assets are Rs 1,64,258.75 crore as on June 30, 2023, as compared to Rs 1,46,178.09 crore as on June 30, 2022.
- Net Worth of the company (without fair value change account) recorded at Rs 32,984.27 crore on June 30, 2023, as against Rs 26,345.14 crore as on June 30, 2022.
- Net Worth of the company (including fair value change account) was recorded as Rs 69,650.29 crore on June 30, 2023, as against Rs 55,341.65 crore as on June 30, 2022.
- Combined Ratio is 118.47% for Q1FY24 as against 110.97% for Q1FY23.
- Adjusted Combined Ratio is 97.24% for Q1FY24 as against 97.01% for Q1FY23.