General Insurance Corporation of India announced 9MFY24 results:
- Gross Premium Income was Rs 28,458.11 crore for 9MFY24 compared to Rs 29,221.85 crore for 9MFY23.
- Underwriting Loss is Rs 4,576.63 crore for 9MFY24 compared to Rs 3,233.80 crore for 9MFY23.
- Investment Income is Rs 8,648.92 crore for 9MFY24 compared to Rs 7,696.79 crore for 9MFY23.
- Solvency Ratio is 2.94 as of December 31, 2023, compared to 2.38 as of December 31, 2022.
- The company recorded a Profit Before Tax of Rs 4,706.58 crore for 9MFY24 compared to a Profit Before Tax of Rs 4,745.17 crore for 9MFY23.
- Profit After Tax for 9MFY24 was Rs 3,854.82 crore, compared to Profit After Tax of Rs 3,748.66 crore for 9MFY23.
- Total Assets are Rs 1,74,882.51 crore as of December 31, 2023, compared to Rs 1,58,526.70 crore as of December 31, 2022.
- Net Worth of the company (without fair value change account) recorded at Rs 35,031.89 crore on December 31, 2023, compared to Rs 29,761.80 crore as on December 31, 2022.
- The Net Worth of the company (including the fair value change account) was recorded as Rs 77,626.89 crore on December 31, 2023, compared to Rs 63,556.21 crore as of December 31, 2022.
- Combined Ratio is 117.99% for 9MFY24 compared to 114.68% for 9MFY23.
- Adjusted Combined Ratio is 94.43% for 9MFY24 compared to 93.63% for 9MFY23.