Go Digit General Insurance (GODIGIT) Q4 21/22 earnings summary

Executive summary

• FY22 gross written premium rose 62% YoY to ₹5,268 crore, versus 10.63% growth for the industry; market share reached 2.4%.

• Served 20 million+ Indians and 99.56% of India’s pin codes; grew from ₹5,000 crore in premiums in one financial year.

Financial highlights

• Net earned premium increased to ₹3,404 crore from ₹1,944 crore YoY; net worth rose to ₹1,867 crore from ₹1,135 crore.

• FY22 loss after tax widened to ₹296 crore from ₹123 crore; basic and diluted EPS were both -₹3.55 versus -₹1.50.

• Assets under management, including cash, increased to ₹9,394 crore from ₹5,590 crore.

• Net investment income and other income totalled ₹35.5 crore; total loss before tax and after tax was ₹295.9 crore.

Segment performance

• Miscellaneous insurance generated ₹3,346 crore of net earned premium and an operating loss of ₹333,498 thousand; FY21 loss was ₹142,412 thousand.

• Fire insurance operating loss was ₹417,468 thousand versus ₹425,707 thousand in FY21; marine insurance operating profit was ₹927 thousand versus a ₹5,043 thousand loss.

• Motor net earned premium reached ₹2,709 crore; Health reached ₹320 crore, Personal Accident ₹73 crore, and Workmen’s Compensation ₹92 crore.