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Latest news about GIC of India

GIC Re Conducts Q3 FY26 Earnings Call, Reports Strong Performance Metrics 8 days ago

General Insurance Corporation of India held its Q3 FY26 earnings conference call, showcasing strong quarterly performance with gross premium income of INR 10,986.55 crores and improved combined ratio. The company maintains robust solvency position at 387% while focusing on international market recovery and disciplined underwriting approach for sustainable growth.

GIC Re Announces Q3FY26 Results with Continued Strong Financial Performance Feb 07, 2026

GIC India Schedules Earnings Call for February 11 Following Q3FY26 Results Announcement Jan 30, 2026

GIC Re Announces Permanent Transfer of Chief Vigilance Officer Under SEBI Regulation 30 Jan 30, 2026

GIC Re Renews Appointment of Key Managerial Personnel Shri Sateesh Bhat Jan 20, 2026

More news about GIC of India

02Jan 26

General Insurance Corporation of India Appoints Shri Uday Laxmandas Devi as Chief Vigilance Officer

General Insurance Corporation of India has appointed Shri Uday Laxmandas Devi as Chief Vigilance Officer with additional charge effective December 29, 2025. The Ministry of Finance directive allows him to serve in this capacity for up to three months while continuing his current role as CVO at Oriental Insurance Corporation Limited. Devi brings over 32 years of experience in banking, risk management, and treasury operations to the position.

01Jan 26

General Insurance Corporation of India Receives CARE AAA Rating Reaffirmation

General Insurance Corporation of India received a reaffirmed CARE AAA rating with stable outlook from CARE Ratings Ltd on January 1, 2026. The rating reaffirmation maintains the company's strong credit profile in the insurance sector and was disclosed to stock exchanges in compliance with SEBI listing regulations.

01Dec 25

GICRe Rectifies Combined Ratio in Investor Presentation

GIC of India, the country's only listed reinsurance company, has issued a correction to its investor presentation. The company revised its combined ratio on a standalone basis from 117.90% to 108.80%, citing a typographical error. This correction was made in the 'GICRe - Key Financials on Standalone Basis' section on page 27 of the presentation. The revision significantly improves the perception of GIC's underwriting performance, as a combined ratio below 100% indicates profitability. The company has communicated this change to stock exchanges and made the corrected presentation available on its website, in compliance with SEBI regulations.

21Nov 25

GIC Re Reports Robust Q2 FY26 Performance with Improved Combined Ratio

GIC of India, the country's largest reinsurer, reported robust Q2 FY26 results. Gross Premium Income rose 14.1% to ₹9,601.70 crores, while Profit After Tax jumped 54.1% to ₹2,866.79 crores. The Combined Ratio improved to 109.15% from 114.05% year-on-year. Solvency Ratio strengthened to 3.85, and Net Worth (excluding fair value change) increased to ₹46,669.38 crores. Domestic premium grew by 4.6%, while international premium saw a 9.4% increase. The company maintains a cautious outlook on regulatory changes but remains confident in its growth strategy.

06Nov 25

GIC Re Sets Stage for Q2 FY26 Results Announcement and Earnings Call

GIC of India (GIC Re) will release its Q2 FY2026 financial results on November 12, 2025. An earnings conference call is scheduled for November 17, 2025, at 12:00 hrs IST. Mr. Hitesh Joshi, Executive Director with Additional Charge of CMD, will lead the discussion. GIC Re holds a 51% market share in India's reinsurance sector and offers various reinsurance services globally.

24Oct 25

GIC Re Appoints Hitesh Joshi as Interim CMD with Administrative Powers

GIC of India has appointed Hitesh Ramesh Chandra Joshi as interim Chairman-cum-Managing Director (CMD), effective October 1, 2025. Joshi, currently Executive Director at GIC Re, will serve for three months or until a regular CMD is appointed. The Ministry of Finance approved this appointment, granting Joshi full financial and administrative powers. Joshi, a Fellow of the Insurance Institute of India, brings expertise in reinsurance, finance, and international business operations to the role.

14Aug 25

General Insurance Corporation of India Declares Rs. 10 Per Share Dividend for FY 2025

GIC of India's Board of Directors has recommended a dividend of Rs. 10.00 per equity share for the financial year ending March 31, 2025, pending approval at the upcoming Annual General Meeting. The record date is set for September 5, 2025, with payment expected within 30 days of AGM approval. The announcement includes details on tax implications for shareholders, with varying TDS rates for resident and non-resident investors. Shareholders are advised to ensure PAN-Aadhaar linkage and submit necessary documentation for TDS exemptions before the deadline.

12Aug 25

GIC Re Reports 70% Surge in Q1 Profit, Eyes 9-10% Growth for FY2026

GIC of India, the country's largest reinsurer, posted a 70% year-on-year increase in profit after tax to ₹1,752.22 crore for Q1 FY2026. The company achieved this despite facing two significant losses. Gross premium income remained flat at ₹12,388.01 crore, while gross investment income rose by 18.37% to ₹3,228.51 crore. The combined ratio improved to 106.94%, and the solvency ratio strengthened to 3.85. GIC Re's international business showed improvement, with the combined ratio for foreign business expected to decrease. The company projects an overall growth of 9-10% for FY2026, aiming to maintain its combined ratio at around 107-107.5%.

07Aug 25

GIC Re Reports 69% Surge in Q1 Profit to ₹1,752 Crore

GIC of India, the country's largest reinsurer, reported a 69% increase in net profit to ₹1,752 crore for Q1, up from ₹1,036 crore in the same period last year. The company's gross written premium slightly decreased to ₹12,388 crore, while net premium increased to ₹11,636 crore. Investment income rose by 20% to ₹3,314 crore. The combined ratio improved to 106.94% from 109.60%. Underwriting loss narrowed to ₹908 crore from ₹1,289 crore. The solvency ratio strengthened to 3.85, and net worth increased by 17.19% to ₹45,275 crore. Fire, Marine, and Miscellaneous insurance segments all reported operating profits. Management attributed the strong performance to improved underwriting practices, strategic investments, and effective risk management.

04Aug 25

UCO Bank Chief Ashwani Kumar Joins GIC Board as Non-Executive Director

Ashwani Kumar, MD and CEO of UCO Bank, has been appointed as a Non-executive director on the Board of GIC of India, effective July 30, 2025. His three-year term will last until the end of his tenure at UCO Bank. Kumar, a Chartered Accountant with over two decades of banking experience, replaces Smt. A. Manimekhalai on the board of India's largest domestic reinsurer. His extensive background includes leadership roles in various public sector banks and expertise in wholesale banking, corporate finance, and financial management.

04Aug 25

GIC Re Sets Stage for Q1FY26 Earnings Call on August 8, 2025

GIC of India, India's largest reinsurer with 51% market share, will discuss Q1FY26 financial results on August 8, 2025, from 11:00 AM to 12:00 PM IST. The call will be led by Chairman and Managing Director Ramaswamy N. GIC offers diverse reinsurance services across multiple business lines and has a global presence with branches in London and Kuala Lumpur, and subsidiaries in the UK, South Africa, and Russia. The company holds an 'A-' (Excellent) rating from AM Best.

29Jul 25

General Insurance Corporation of India Welcomes Tapan Kumar Mondal as Government Nominee Director

General Insurance Corporation of India (GIC Re) has appointed Shri Tapan Kumar Mondal as a Government Nominee Director on its Board, effective July 24, 2025. Mondal, currently Deputy Secretary in the Department of Financial Services, Ministry of Finance, brings extensive government experience to the role. The appointment, made by the Central Government, aims to strengthen GIC Re's governance structure. Mondal is not related to any existing directors and is not debarred from holding the position by any regulatory authority.

29Jul 25

GICRE Reports Significant Reduction in Tax Demand, Saving 562.4 Million Rupees

GIC of India (GICRE) has reported a decrease of 562.4 million rupees in its tax obligations following appeal orders from the Commissioner Appeals CGST & Central Excise, Mumbai. The first order reduced the demand from 1,112.28 crore to 138.47 crore rupees, while the second order lowered it from 60.02 crore to 3.79 crore rupees. Despite this reduction, GICRE states there's no material impact on its financials or operations. The company plans to file appeals against both demands at the GST tribunal.

23Jul 25

General Insurance Corporation of India Appoints Ms. Jayashri Balkrishna as Executive Director

GIC of India has appointed Ms. Jayashri Balkrishna as Executive Director. She brings extensive experience in various critical functions including investments, reinsurance operations, and risk management. Ms. Balkrishna holds a post-graduate degree in Commerce, is a Fellow of the Insurance Institute of India, and an Associate of the Chartered Insurance Institute, London. She previously served as the Chief Risk Officer, overseeing Enterprise Risk Management and Corporate Social Responsibility initiatives. Ms. Balkrishna holds 1,222 equity shares in GIC of India and is not related to any existing Directors.

28Jun 25

GIC Re's Dubai Branch Faces Rs 90.42 Crore VAT Demand Notice from UAE Tax Authority

GIC of India's Dubai branch has received a VAT demand notice of approximately Rs 90.42 crore from the UAE's Federal Tax Authority. The notice concerns discrepancies in VAT returns filed from January 2018 to December 2020. GIC Re plans to file a reconsideration request and states there is no material impact on its financials or operations.

26Jun 25

Government Mulls Accelerating GIC Share Sale

The Indian government is reportedly exploring options to expedite the sale of its shares in GIC of India, the country's largest reinsurer. While specific details are limited, this move could potentially impact the ownership structure of the state-owned company. The exact timeline, volume of shares to be sold, and reasons for the potential acceleration have not been disclosed. No official statement has been released by the government regarding this matter.

27May 25

GIC Re Reports 17% Drop in Q4 Profit, Declares Rs 10 Per Share Dividend

General Insurance Corporation of India (GIC Re) reported a 17% decline in Q4 net profit to Rs 2,183.00 crore. Gross premium income increased to Rs 10,367.00 crore, but the company faced an underwriting loss of Rs 392.00 crore. The combined ratio rose to 103.56%. Despite challenges, GIC Re's board recommended a dividend of Rs 10.00 per share. The company's solvency ratio improved to 3.70, indicating a strong capital position.

26May 25

GIC Re Reports Q4 Results: 17% Profit Decline, Dividend Proposed, Asset Quality Improves

GIC Re's Q4 net profit declined 17% to ₹2,183.00 crore, but gross premium increased to ₹10,367.00 crore. Full-year profit rose 3% to ₹6,701.00 crore. Asset quality improved with GNPA ratio decreasing from 1.81% to 1.13%. The board recommended a dividend of ₹10 per equity share. Solvency ratio improved to 3.70, indicating strong financial position.

13Mar 25

Value Attics Reinsurance Set to Make History as India's First Private Sector Reinsurer

Value Attics Reinsurance is poised to become India's first private sector reinsurer, breaking the monopoly of state-owned General Insurance Corporation of India (GIC Re). This development is expected to increase competition, enhance reinsurance capacity, bring in global best practices, and potentially lead to more innovative products and competitive pricing in the Indian insurance sector.