GIC RE reported 14% decline in consolidated profit

Myequity news | Date : 27-05-2018 20:00:00

GIC Re (General insurance corporation of India) reported financial results of quarter and year ended 31-Mar-2018.

Below are the highlights of yearly consolidated results.

    •  25% increase in consolidated Gross Premium.

    •  Increase in claims due to global catastrophes like Harvey.Irma.Maria hurricanes, Mexican earthquake and California wildfire.

    •  Reported underwriting loss of 1,534 crores.

    •  Investment income increased by 17.7% from 4,587.75 to 5,403.09 crores.

    •  Consolidated net profit for whole financial year 2017-18 stands at 3,145.54.


    •  GICRE has declared dividend of Rs 13.5/Share (Record date 14 July 2018).

    •  Recommended 1:1 bonus share issue (Record date 14 July 2018).

Results were announced post trading hours. Stock has closed at 691.50 up 0.78% on 25 May 2018.
Stock has dropped 24% from its issue price of Rs. 912 ever since it is listed in stock market on 25 Oct 2017.


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