General Insurance Corporation of India
GICREFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220602 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220822 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221114 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230213 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230529 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230814 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231114 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240212 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240531 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240814 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241119 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250211 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250603 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250812 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251121 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260216 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260608 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260820 | 2026-06-30 | yes |
GICRE
files the general-insurance revenue and shareholders’ accounts. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | insurance general |
| Scope served | consolidated |
| Panels on this page | 5 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 339.25 |
| 52-week range | 337.75 – 409.35 |
| Return 1M | -3.46% |
| Return 3M | -6.01% |
| Return 1Y | -6.52% |
| Return 3Y | 49.91% |
| Return 5Y | 132.44% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Premium earned | 11,098.00 |
| Net premium written | 12,721.00 |
| Income from investments, net | 2,187.00 |
| Claims incurred | 9,755.00 |
| Claims paid | 7,368.00 |
| Commission, net | 2,392.00 |
| Operating expenses related to insurance business | 137.00 |
| Premium deficiency | -53.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.77 | -0.05 |
| institutions foreign | 0.02 | 0.00 |
| institutions domestic | 0.18 | 0.04 |
| mutual funds | 0.04 | 0.02 |
| public | 0.23 | 0.05 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Cash flow, as filed
| Line | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|
| Net cash from operating activities | 1,976.00 | -206.00 | 466.00 |
| Net cash from investing activities | -926.00 | -2,041.00 | -2,075.00 |
| Net cash from financing activities | -1,754.00 | -1,754.00 | -1,754.00 |
| Purchase of property, plant and equipment | 0.00 | 7.00 | 3.00 |
| Net increase in cash | -53.00 | -2,385.00 | -7.00 |
| con:CFO.BEFORE_TAX | 1,976.00 | -206.00 | 2,990.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 0.00 | 0.00 | 2,524.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | -3.00 | -11.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 |
Revenue account (policyholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Premium earned | 36,712.00 | 11,274.00 | 8,925.00 | 9,631.00 | 39,743.00 | 11,098.00 |
| Net premium written | 38,412.00 | 11,824.00 | 8,588.00 | 10,486.00 | 40,904.00 | 12,721.00 |
| Income from investments, net | 8,735.00 | 2,267.00 | 2,567.00 | 1,890.00 | 8,674.00 | 2,187.00 |
| Claims incurred | 32,167.00 | 9,790.00 | 7,405.00 | 8,226.00 | 33,318.00 | 9,755.00 |
| Claims paid | 26,297.00 | 7,940.00 | 5,468.00 | 6,969.00 | 27,252.00 | 7,368.00 |
| Commission, net | 7,472.00 | 1,880.00 | 2,261.00 | 1,746.00 | 8,067.00 | 2,392.00 |
| Operating expenses related to insurance business | 394.00 | 82.00 | 177.00 | 96.00 | 452.00 | 137.00 |
| Premium deficiency | -38.00 | 51.00 | 6.00 | 4.00 | 58.00 | -53.00 |
| Underwriting profit or loss | -3,284.00 | -529.00 | -924.00 | -441.00 | -2,152.00 | -1,133.00 |
| Transfer to the profit and loss account | 4,995.00 | 1,597.00 | 1,787.00 | 1,404.00 | 6,689.00 | 969.00 |
Profit and loss account (shareholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Income in the shareholders' account | 9,805.00 | 3,094.00 | 3,416.00 | 2,511.00 | 12,405.00 | 2,303.00 |
| Shareholders' income from investments | 4,170.00 | 1,082.00 | 1,263.00 | 1,068.00 | 4,568.00 | 1,116.00 |
| Shareholders' other income | 640.00 | 415.00 | 366.00 | 39.00 | 1,147.00 | 218.00 |
| Transfer from the policyholders' account | 4,995.00 | 1,597.00 | 1,787.00 | 1,404.00 | 6,689.00 | 969.00 |
| Non-operating expense | 243.00 | 72.00 | -74.00 | 151.00 | 296.00 | -11.00 |
| Profit before exceptional items and tax | 9,563.00 | 3,021.00 | 3,491.00 | 2,360.00 | 12,109.00 | 2,315.00 |
| con:EXTRAORDINARY_ITEMS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit for the period | 7,432.00 | 2,531.00 | 2,874.00 | 1,751.00 | 9,662.00 | 1,744.00 |
| Profit carried to the balance sheet | 26,614.00 | 29,144.00 | 1,113.00 | 1,726.00 | 34,516.00 | 36,260.00 |
| Transfer to reserves | 598.00 | 143.00 | 218.00 | 140.00 | 739.00 | 161.00 |
| Final dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Earnings per share, basic | 42.36 | 14.42 | 16.38 | 9.84 | 55.08 | 9.94 |
| Other income | 142.00 | 2.00 | 362.00 | 96.00 | 906.00 | 76.00 |
| con:OTHER_OPERATING_EXPENSES | 215.00 | 44.00 | 119.00 | 37.00 | 247.00 | 49.00 |
| con:INS.PROVISIONS_DOUBTFUL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.PROVISIONS_DOUBTFUL_NON_OPERATING | 54.00 | 29.00 | -115.00 | 102.00 | 118.00 | -33.00 |
| con:INS.NON_OPERATING_EXPENSE_OTHER | 108.00 | 39.00 | 29.00 | 34.00 | 141.00 | 16.00 |
Funds and assets, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Paid-up equity share capital | 877.00 | 877.00 | 877.00 | 877.00 | 877.00 | 877.00 |
| Investments — policyholders' fund | 94,995.00 | 99,326.00 | 98,543.00 | 100,166.00 | 95,156.00 | 99,238.00 |
| Investments — shareholders' fund | 48,285.00 | 52,202.00 | 52,722.00 | 54,971.00 | 53,217.00 | 55,618.00 |
| Other assets net of current liabilities | -54,481.00 | -55,394.00 | -55,464.00 | -55,621.00 | -56,328.00 | -56,105.00 |
| Total assets | 88,800.00 | 96,134.00 | 95,801.00 | 99,516.00 | 92,044.00 | 98,750.00 |
| Investments | 143,280.00 | 151,528.00 | 151,265.00 | 155,137.00 | 148,373.00 | 154,855.00 |
| Reserves and surplus | 47,782.00 | — | 52,878.00 | — | 58,419.00 | — |
| Borrowings | 0.00 | — | 0.00 | — | 0.00 | — |
| con:LOANS | 137.00 | — | 125.00 | — | 125.00 | — |
| Property, plant and equipment | 327.00 | — | 329.00 | — | 332.00 | — |
| Current assets | 50,332.00 | — | 52,295.00 | — | 55,860.00 | — |
| Current liabilities | 86,235.00 | — | 89,308.00 | — | 92,719.00 | — |
| con:PROVISIONS | 19,735.00 | — | 19,815.00 | — | 20,970.00 | — |
Solvency and underwriting ratios, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Solvency ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Combined ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Incurred claim ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Expenses of management ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross NPAs — policyholders' fund | 895.00 | 9.00 | 9.00 | 0.00 | 844.00 | 839.00 |
| Gross NPAs, per cent — policyholders' fund | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.NPA_NET_PCT_POLICYHOLDERS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.SHAREHOLDING_PCT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 85.78 | 85.78 | 85.78 | 85.78 | 85.78 | 85.78 | 82.40 | 82.40 | 82.40 | 82.40 | 0.82 | 0.82 | 0.82 | 0.77 |
| Domestic institutions | 11.02 | 11.03 | 11.02 | 11.12 | 11.06 | 10.91 | 13.71 | 13.70 | 13.67 | 13.30 | 0.13 | 0.13 | 0.14 | 0.18 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 0.73 | 0.01 | 0.01 | 0.01 | 0.04 |
| Insurance companies | 9.77 | 9.76 | 9.76 | 9.76 | 9.77 | 9.77 | 10.98 | 10.95 | 10.94 | 10.94 | 0.11 | 0.11 | 0.11 | 0.13 |
| Foreign institutions | 0.67 | 0.77 | 0.86 | 0.95 | 0.86 | 1.05 | 1.34 | 1.80 | 1.93 | 2.11 | 0.02 | 0.02 | 0.02 | 0.02 |
| Public | 14.22 | 14.22 | 14.22 | 14.22 | 14.22 | 14.22 | 17.60 | 17.60 | 17.60 | 17.60 | 0.18 | 0.18 | 0.18 | 0.23 |
| Non-institutional | 2.53 | 2.41 | 2.33 | 2.15 | 2.29 | 2.25 | 2.55 | 2.10 | 2.00 | 2.20 | 0.02 | 0.02 | 0.02 | 0.02 |
| Shares outstanding | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 | 1754400000 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| GIC RE India Corporate Member London,U.K. | Subsidiaries | Any other transaction | 9,757,900,000.00 | 1 |
| Agriculture Insurance Company of India Ltd | Associate | Any other transaction | 7,044,700,000.00 | 1 |
| India International Pte Ltd. | Associate | Any other transaction | 1,135,600,000.00 | 1 |
| GIC RE South Africa Ltd. Johannesburg, S.A. | Subsidiaries | Any other transaction | 932,100,000.00 | 1 |
| GIC Perestrakhovanie LLC | Subsidiaries | Any other transaction | 533,500,000.00 | 1 |
| GIC Bhutan RE Ltd. | Associate | Any other transaction | 41,300,000.00 | 1 |
| Shri Sateesh N. Bhat | Key Managerial Personnel - General | Remuneration | 4,500,000.00 | 1 |
| Mr. Suresh Narayan Sindhi | Key Managerial Personnel - General | Remuneration | 3,500,000.00 | 1 |
| Shri Rajesh Khadatare | Key Managerial Personnel -Deputy G | Remuneration | 2,900,000.00 | 1 |
| Shri N. Ramaswamy | Key Managerial Personnel - Chief E | Remuneration | 2,700,000.00 | 1 |
| Shri Hitesh Joshi | Key Managerial Personnel - General | Remuneration | 2,700,000.00 | 1 |
| Shri S. K. Rath | Key Managerial Personnel - General | Remuneration | 2,600,000.00 | 1 |
| Shri Sanjay Mokashi | Key Managerial Personnel -Deputy G | Remuneration | 2,600,000.00 | 1 |
| Shri Suresh Savaliya | Key Managerial Personnel - Company | Remuneration | 2,300,000.00 | 1 |
| Shri Sachindra Dattaram Salvi | Key Managerial Personnel - General | Remuneration | 2,300,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-20 | Q1FY27 | INDIA LIMITED | Read the call |
| 2026-06-08 | Q4FY26 | Read the call | |
| 2026-02-16 | Q3FY26 | Read the call | |
| 2025-11-21 | Q2FY26 | LIMITED | Read the call |
| 2025-08-12 | Q1FY26 | Read the call | |
| 2025-06-03 | Q4FY25 | CHIEF UNDERWRITING OFFICER | Read the call |
| 2025-02-11 | Q3FY25 | MANAGING DIRECTOR, GENERAL INSURANCE | Read the call |
| 2024-11-19 | Q2FY25 | LIMITED | Read the call |
| 2024-08-14 | Q1FY25 | Read the call | |
| 2024-05-31 | Q4FY24 | LIMITED | Read the call |
| 2024-02-12 | Q3FY24 | INDIA LIMITED | Read the call |
| 2023-11-14 | Q2FY24 | MANAGING DIRECTOR. | Read the call |
| 2023-08-14 | Q1FY24 | LIMITED | Read the call |
| 2023-05-29 | Q4FY23 | Read the call | |
| 2023-02-13 | Q3FY23 | INDIA, MANAGING DIRECTOR, GENERAL INSURANCE | Read the call |
| 2022-11-14 | Q2FY23 | Read the call | |
| 2022-08-22 | Q1FY23 | Read the call | |
| 2022-06-02 | Q4FY22 | DIRECTOR, GIC RE., LIFE, GIC RE., OFFICER, GIC RE. | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capital allocation | Or is it largely dividend and interest income in the investment income for this quarter and nine months, if you can just share the split? | Does it mean that the decline, which we have been seeing in the International Business, is going to be divested in the next year, and it will come on … | — | — | And second question related to that would be on the dividend front. | And just last third question is on the fourth quarter acquisition costs. | And last one sir, if you can break down your investment income for the full year and the current quarter into capital gains and the regular dividend/i… | Now if we were to see your dividend payout, of course, it is there, but your ability to pay dividend could be even more given the kind of a strong sol… |
| Costs | — | — | — | — | — | — | — | — |
| Debt and cash | — | — | — | — | So, in nutshell, I mean in a summarized way, overall outgo from the operation and overall income from the operations will be more or less having the s… | — | The other aspect that you are telling that health and crop, crop we are away from the crop portfolio because of the same increase in loss and the prem… | — |
| Demand | And of course, also, what we must realize is in the corresponding quarter last year, there was actual bookings of crops that got booked in the third q… | So, like I said in my earlier opening remarks, there are areas where we see traction happening, because the regulator is pushing, there is demand in t… | If it is burn cost, there will be demand for proportional treaties as well. | It’s a typical demand supply curve that’s operating. | — | — | But sir, if the commission demand is higher, then is it fair to say that this Rs. | — |
| Guidance | So if you can just explain what are these losses pertaining to and for how long we expect the losses on the marine segment to continue? | If you remember, at the beginning of FY '25, we had given a guidance that compared to the previous year, we would grow about 8% to 10%, and we would b… | Our guidance for achieving about a percentage improvement in each of the years stands. | So, there is a de-growth in the domestic premium by around 7% while the international book has decreased by 11%.Wwe expect the positive momentum in te… | Sir, just wanted to know what has led to the improvement in combined ratio on the domestic front and can we expect the improvement in combined ratio t… | So means just asking from maybe -- I know you don't give the guidance numbers. | And any guidance on combined ratio improvement trajectory which has been consistently improving for you guys over the last four years? | But in terms of other classes, especially motor, whatever we are doing, we expect the results to be seen after some time. |
| Margin | We have been trying to use the lower-margin business and make the balance sheet more healthy. | Can you throw some light on the profitability or the margin on all these 3 segments? | — | — | For small margin we are working heavily and we will come out of it. | To that extent, we've already grown our domestic business as on 01/04/2024 by a significant margin. | — | — |
| People | — | — | So, we have internal policy for this creation and utilization of the CAT reserve. | — | — | — | — | And we ensured that we strike a balance between utilization of our capital capacity and also supporting our insurance partners, insurers who have been… |
| Pricing | And in terms of the pricing environment internationally, so the Jan renewals would have happened by now, right? | The first 9 months of this year, the pricing was not great. | Sir, just wanted to understand the pricing environment. | So is there something that structurally needs to be changed, the pricing materially need to go up for us to make money. | We are looking at our pricing tools giving an indicative rate and you know anything and everything that we can do is what we are now doing while shedd… | So given that a few primary insurers are not very much comfortable about the motor third party pricing hike, let's say, in the full year 2025. | So just wanted to understand this growth is sustainable and how much it is driven by any pricing environment change in Jan renewals? | Importantly, these improvements have been driven by execution and discipline rather than reliance on cyclic pricing conditions. |
| Revenue growth | — | So, firstly, on the top line growth, it was quite a significant growth for the quarter. | So, the growth of the corporation would mostly, at least, mirror the growth of the Indian reinsurance market. | — | I think we have been reiterating our stand in terms of the underwriting discipline and that is reflected in our decrease in topline over last 3 years. | And that is where we are seeing the softening happening because there is competition in the market and people are trying to increase their top line. | Prayesh, in this situation, if obligatory goes away, yes, there could be a hit, a temporary setback to the top line. | There was a bit of growth, but we ensured that the growth was in the desired segment, in the desired categories. |