GIC Re’s net profit nearly doubles to Rs 3,417 crore in Q4
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GIC Re’s total premium income for the quarter ended March 31, 2023 stood at Rs 7,369.74 crore as against Rs 10,303.81 crore in the corresponding quarter of 2021-22. According to the statement, the net premium income during this period stood at Rs 6,234.53 crore as against Rs 9,080.52 crore in the quarter ended March 2022.
The net profit of General Insurance Corporation of India (GIC Re) almost doubled to Rs 3,417.07 crore in the January-March quarter of the last financial year 2022-23. The company said in a statement on Thursday that its net profit in the same quarter of the previous financial year was Rs 1,794.68 crore. GIC Re’s total premium income for the quarter ended March 31, 2023 stood at Rs 7,369.74 crore as against Rs 10,303.81 crore in the corresponding quarter of 2021-22. According to the statement, the net premium income during this period stood at Rs 6,234.53 crore as against Rs 9,080.52 crore in the quarter ended March 2022.
During the entire financial year 2022-23, the company’s net profit tripled to Rs 6,312.50 crore from Rs 2,005.74 crore in the previous financial year 2021-22. The total premium income in the financial year under review stood at Rs 36,591.59 crore, as against Rs 43,208.46 crore in 2021-22, a year ago. Net premium income stood at Rs 33,644.43 crore in 2022-23 as against Rs 38,799.03 crore in the previous financial year.
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