General Insurance Corporation of India Limited (GIC Re) reported four-fold jump in its net profit to Rs.1,010.55crore for the quarter ended September 30. The public sector general insurer had posted a net profit of Rs230.05cr in the same quarter of last fiscal.
The company’s gross premium, however, was down to Rs.8,374.72crore in Q2FY22, compared with Rs.10,651.50 crore in Q2FY21.
Profit After Tax for H1FY22 recorded as Rs.238.82cr as compared to Loss After Tax of Rs.327.42cr for H1FY21. Total Assets are Rs.1,46,132.46crore as on September 30, 2021 as compared to Rs1,26,167.89cr as on September 30, 2020.