General Insurance Corporation of India — Investor Meet, 03-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

GIC Re reported Q4 gross premium at Rs. 10,367 Cr, up from Rs. 8,724 Cr YoY, with a FY25 combined ratio of 108.8%. Q4 PAT fell to Rs. 2,183 Cr due to catastrophe losses. Domestic premiums grew 18.8%, while international premiums declined 7.8% for FY25 but rose 35% in Q4 after a rating upgrade. Investment income reached Rs. 11,204 Cr. Management emphasized strong underwriting discipline, portfolio quality, and expects combined ratio to improve to ~106-107% in FY26. Health grew ~66% in FY25; crop insurance declined due to new models but offers selective growth. Reinsurance growth targeted at 10% CAGR. The outlook is confident yet cautiously optimistic amid global market softness.