General Insurance Corporation of India (GICRE) Q1 26/27 earnings summary

Executive summary

• Gross premium income for Q1 FY 2027 rose to INR 13,475.36 crore, up from INR 12,388.01 crore year-over-year.

• Holds ~52% market share in Indian reinsurance, ranking 9th globally with presence in 137 countries.

• Profit after tax for the quarter was INR 1,922.04 crore, with a marked improvement in underwriting metrics.

• Solvency ratio improved to 4.32 as of June 30, 2026, compared to 3.85 a year earlier.

• Focus remains on portfolio quality, prudent capital deployment, and disciplined risk selection.

Financial highlights

• Investment income for Q1 FY 2027 was INR 3,265.51 crore, slightly down from INR 3,313.74 crore year-over-year.

• Combined ratio improved to 104.88% from 106.94% year-over-year.

• Profit before tax stood at INR 2,490.25 crore.

• Net premium written for Q1 FY27 was ₹12,72,056 lakhs, up from ₹11,82,350 lakhs in Q1 FY26.

• Final dividend of ₹10.00 per share declared.

Outlook and guidance

• Targeting overall portfolio growth of roughly 10%, with more pronounced growth expected in foreign markets.

• Medium-term goal is a 60/40 domestic/international business mix, with a long-term aspiration of 50/50.

• Combined ratio targets: 103 for domestic and 95 for foreign business within two to three years.

• Catastrophe Reserve continues to be built quarterly, with ₹16,058 lakhs appropriated in Q1 FY27.

• Focus on profitability over growth, especially in specialty and global books.