General Insurance Corporation of India (NSE: GICRE) is a leading Indian reinsurance company that provides reinsurance services to the Indian insurance market. The company was established in 1972 and has since then grown to become the largest reinsurer in India, with a market share of over 60%. The company operates in both the domestic and international markets and has a diversified portfolio of products and services.
In terms of earnings, Total Income for Q3 FY23 was ₹10,569.80 crore, a 2.7% decrease from ₹10,861.92 crore in the same period last year. The Consolidated Net Profit was ₹1,232.25 crore, surged from ₹141.80 crore in the same quarter last year. This quarter’s earnings per share was ₹7.02. The third quarter’s other income, which came from foreign exchange gain of ₹42.24 Crore. In the same time period, the company’s Solvency Ratio increased to 2.38 from 1.80. As of December 31, 2022, it had a Gross NPA of 2.65 improved from 2.97 from previous year.
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