ALFA Finder| Revenue growth | Gross premium +16.9% YoY in Q2; H1 +12.3%; domestic-led, international flat. |
|---|---|
| Margins | Combined ratio 110.23% vs 109.15%; international improved to 108.24% from 119.87%. |
| Demand visibility | Domestic property rates reportedly holding; international competition expected to persist. |
| Management confidence | Defensive; deflected catastrophe-loss, combined-ratio and Ind AS questions. |
Growth
Gross premium rose 16.9% YoY to ₹11,228 Cr in Q2 and 12.3% to ₹24,704 Cr in H1. Domestic grew 15.9%; international was flat at ₹4,909 Cr.
Outlook
No numeric forward guidance; catastrophe-loss guidance deferred to FY28. Gujarat flood provision of ₹450-500 Cr. Competition expected to persist through H2.
Risks
Q2 claims ratio 87.39% vs 81.50%; combined ratio 110.23%. Management refused catastrophe-loss, combined-ratio and Ind AS guidance. Reserve strengthening ongoing.
Last quarter's promises, checked
Delivered
- Guided ~10% growth → H1 +12.3% (= BEAT)
Partly delivered
- Guided intl CR 95 in 2–3 yrs → 108.24% from 119.87% (= PARTIAL; not yet due)
Missed
- Guided 1pp/yr CR cut → Q2 CR 110.23% vs 109.15% (= MISS)
- Guided foreign to grow 'significantly' → international flat at ₹4,909 Cr (= MISS)
Earnings Call Transcript filed with NSE, NSE: GICRE. Summary written with AI assistance from the document.
General Insurance Corporation of India: key numbers
- Share price
- ₹342.30
- Market cap
- ₹60,053 Cr
- Revenue (annual)
- ₹52,986 Cr
- Net profit (annual)
- ₹9,662 Cr
- P/E (TTM)
- 6.7×Sector 20.6×
- Promoter holding
- 77.40%+0.00% QoQ
- FII holding
- 2.40%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Key figure
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