General Insurance Corporation of India (GIC Re) reported a consolidated net profit of Rs1,991.59cr for the fiscal year 2020-21 against a net loss of Rs186.46cr in the previous financial year.
On a standalone basis, the insurer registered a Profit After Tax for the year ended 31.03.2021 recorded as Rs1,920.44cr as compared to Loss after Tax of Rs359.09cr for the year ended 31.03.2020.
The company's gross Premium Income of the company was Rs47,014.38cr for the year ended 31.03.2021 as compared to Rs51,030.13cr for FY20. Incurred Claims Ratio which was 97.5% as of 31.03.2020 has been improved to 92.4 % as of 31.03.2021.
Investment Income stood at Rs8,820.86cr for the year ended 31.03.2021 as compared to Rs7,125.48cr for the year ended 31.03.2020.
At around 3.02 PM, the insurer was trading at Rs207.70 per piece up by 1.7% on Sensex. The stock has touched an intraday high of Rs211.50 per piece in the early deals.