Go Digit General Insurance (GODIGIT) Q4 17/18 earnings summary

Executive summary

• Licensed on 20 Sep 2017 and began operations in Oct 2017; first-year direct gross premium was ₹93.83 crore, with 0.07% market share.

• Strategy centered on simple, customizable products, technology-led service and hybrid distribution; Fairfax signaled confidence in long-term potential.

Financial highlights

• FY18 gross written premium was ₹104.05 crore; net written premium ₹75.44 crore and net earned premium ₹7.47 crore.

• Operating loss was ₹83.31 crore and loss after tax ₹70.13 crore; operating expenses were ₹82.50 crore.

• Net worth was ₹273.86 crore at 31 Mar 2018; total assets were ₹405.02 crore.

Outlook and guidance

• Planned differentiation through a technology-driven platform, customized products, reduced costs and customer-focused service.

• Distribution strategy spans retail, institutional and direct channels, with online and offline reach and instant onboarding.