GIC Re on Monday posted a 17 per cent decline in net profit to Rs 2,183 crore for the fourth quarter ended March 2025.
The state-owned reinsurance company had earned Rs 2,642 crore in the same quarter in the previous financial year.
During the quarter, the company collected a gross premium of Rs 10,367 crore against Rs 8,724 crore in the year-ago period, GIC Re said in a filing.
Total income of the re-insurer rose to Rs 11,364 crore in the March quarter compared to Rs 9,222 crore in the same quarter a year ago.
During the quarter, the company booked an underwriting loss of Rs 392 crore as against a profit of Rs 570 crore in the same period a year ago.
The board recommended a dividend of Rs 10 (or 200 per cent) per equity share on the face value of Rs 5 each for 2024-25, subject to the approval of the shareholders.
For the full fiscal, GIC Re recorded a 3 per cent rise in net profit to Rs 6,701 crore from Rs 6,497 crore in the preceding financial year.
Gross Premium Income of the company improved to Rs 41,154 crore for the year ended March 2025 as compared to Rs 37,182 crore for FY24.
The solvency Ratio increased to 3.70 from 3.25 at the end of March 2024.
Total assets of the company rose to Rs 1,87,616 crore against Rs 1,78,286 crore in the previous year.
GIC Re is the largest reinsurer in the domestic reinsurance market in India and leads most of the domestic companies' treaty programmes and facultative placements.
