InvestorQ : What has triggered the sharp growth in profits of GIC Re?
vidhya Laxmi made post

What has triggered the sharp growth in profits of GIC Re?

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sarah Leo answered.
6 months ago
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GIC Re has reported net profit of Rs.1,992 crore for full year FY21. This compares favourably to a net loss of Rs.187cr in the FY20 full year. While the gross premium collections for FY21 were nearly 8% lower at Rs47,014 crore, that was more than compensated by a sharp spike in investment income as well as lower provisions.

The incurred claims ratio improved from 97.5% in FY20 to 92.4% in FY21. But the real icing on the cake came from Income from investments which grew sharply by 22% to Rs.8,821 crore. Another important metrics, the Solvency ratio also improved from 1.53 in FY20 to 1.74 in FY21.

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