GIC Re: results as at 30 June 2022

As at 30 June 2022, General Insurance Corporation of India (GIC Re) has recorded a turnover of 111 billion INR (1.4 billion USD).

This represents a 23% decline compared to the 144.26 billion INR (1.9 billion USD) posted during the same period in 2021.

After a net loss of 10.39 billion INR (139.91 million USD) as at 30 June 2021, the Indian reinsurer managed to return to profits by the end of June 2022. On that date, the net profit stood at 7.29 billion INR (92.43 million USD).

During the period under review, the investment income has reached 19.11 billion INR (242.29 million USD), increasing by 5.6% over one year.