GIC Re corrects FY25 combined ratio, reaffirms strong financial outlook

GIC Re announced a correction to its investor presentation, rectifying an erroneous combined ratio of "117.9%" to the correct "108.8%" for FY25 on a standalone basis. This adjustment maintains the company’s strong financial outlook, with a consistently improving combined ratio (FY24: 111.8%, FY25: 108.1%, H1FY26: 106.7%). The updated presentation reconfirms GIC Re's position as a leading global reinsurer, boasting a 370% solvency ratio in FY25 and a 15.3% ROE, reflecting healthy capitalization and stellar returns.

The company's Gross Written Premium (GWP) is projected to reach INR 41,955 Cr in FY25, with Profit After Tax expanding to INR 7,432 Cr, nearly tripling in the last three years. GIC Re, with 82.4% shareholding by the government of India as of September 2025, maintains approximately 51% market share in India (FY24) and is the only listed reinsurance company in the country. It reinsures every non-life insurance player in India and supports 59 direct general and life insurance companies, sourcing business from 137 countries.

The revised investor presentation, also available on the corporation's website, emphasizes GIC Re's strategic focus on disciplined underwriting, portfolio diversification, effective exposure management, and price adequacy to further reduce its combined ratio.