GICRE
General Insurance Corporation of India
General Insurance Corporation of India (GICRE) financial statements and selected valuation metrics through 30 June 2026.
Financial Services›Financial Services›Insurance›General Insurance
gicre.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹327.55
Market cap
57,465 Cr
Stock P/E
6.5
P/B
0.94
Dividend yield
3.1%
ROE (FY26)
16.3%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
GIC Re is India's state-owned reinsurer: Indian insurance companies pass part of their risk on to it, and it also writes reinsurance abroad, earning premiums and investment income on a very large investment portfolio.
Company snapshot
2ndBy market cap
Ranked among 6 companies in General Insurance.
What we see
Positives
- ✓Net margin of 23.6% — the business keeps a healthy share of every rupee it earns.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Insurance layout · ₹ Cr · quarterly
| Metric | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Premium | 9,557 Cr | 6,294 Cr | 8,334 Cr | 9,959 Cr | 7,616 Cr | 9,229 Cr | 9,976 Cr | 11,824 Cr | 8,588 Cr | 10,486 Cr | 10,007 Cr | 12,721 Cr |
| Expenses | 151 Cr | 147 Cr | 96 Cr | 90 Cr | 70 Cr | 95 Cr | 125 Cr | 82 Cr | 177 Cr | 96 Cr | 97 Cr | 137 Cr |
| Operating profit | 9,406 Cr | 6,147 Cr | 8,238 Cr | 9,869 Cr | 7,546 Cr | 9,134 Cr | 9,851 Cr | 11,741 Cr | 8,411 Cr | 10,390 Cr | 9,910 Cr | 12,584 Cr |
| Investment income | — | — | — | — | — | — | — | — | — | — | — | — |
| Other income | 42 Cr | -151 Cr | -57 Cr | 116 Cr | -110 Cr | 235 Cr | 35 Cr | 2 Cr | 362 Cr | 96 Cr | 447 Cr | 76 Cr |
| Profit before tax | 1,340 Cr | 3,145 Cr | 1,181 Cr | 1,933 Cr | 2,278 Cr | 2,237 Cr | 3,279 Cr | 3,021 Cr | 3,491 Cr | 2,360 Cr | 3,262 Cr | 2,315 Cr |
| Tax % | 8.0% | 13.2% | 17.2% | 12.6% | 18.5% | 25.0% | 23.8% | 16.2% | 17.7% | 25.8% | 22.4% | 24.7% |
| Net profit | 1,232 Cr | 2,729 Cr | 978 Cr | 1,689 Cr | 1,856 Cr | 1,677 Cr | 2,499 Cr | 2,531 Cr | 2,874 Cr | 1,751 Cr | 2,533 Cr | 1,744 Cr |
| EPS (₹) | ₹7.02 | ₹15.56 | ₹5.57 | ₹15.20 | ₹18.56 | ₹9.56 | ₹14.24 | ₹14.42 | ₹16.38 | ₹9.84 | ₹14.44 | ₹9.94 |
Profit & loss (annual)
Annual insurance P&L · TTM where available · ₹ Cr
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Premium | 26,375 Cr | 38,200 Cr | 38,250 Cr | 46,765 Cr | 42,353 Cr | 39,119 Cr | 33,755 Cr | 33,705 Cr | 38,412 Cr | 40,904 Cr | Sign in free for the trailing twelve months |
| Expenses | — | — | — | 393 Cr | 307 Cr | 403 Cr | 440 Cr | — | 394 Cr | 452 Cr | Sign in free for the trailing twelve months |
| Operating profit | — | — | — | 46,373 Cr | 42,046 Cr | 38,716 Cr | 33,315 Cr | — | 38,018 Cr | 40,453 Cr | Sign in free for the trailing twelve months |
| Investment income | — | — | — | — | — | — | — | — | — | — | Sign in free for the trailing twelve months |
| Other income | — | — | — | 429 Cr | -224 Cr | 400 Cr | 608 Cr | — | 143 Cr | 906 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 3,417 Cr | 3,580 Cr | 3,973 Cr | -274 Cr | 3,236 Cr | 3,942 Cr | 8,361 Cr | 8,103 Cr | 9,563 Cr | 12,109 Cr | Sign in free for the trailing twelve months |
| Tax % | 12.1% | 12.1% | 30.6% | 31.9% | 38.5% | 39.5% | 17.4% | 17.5% | 22.3% | 20.2% | Sign in free for the trailing twelve months |
| Net profit | 3,004 Cr | 3,146 Cr | 2,758 Cr | -186 Cr | 1,992 Cr | 2,386 Cr | 6,907 Cr | 6,686 Cr | 7,432 Cr | 9,662 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | — | ₹36.26 | ₹15.72 | ₹-1.06 | ₹11.35 | ₹13.60 | ₹39.37 | ₹38.11 | ₹42.36 | ₹55.08 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 0.0% | 5.7% | — | 23.6% | 18.2% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 430 Cr | 439 Cr | 877 Cr | 877 Cr | 877 Cr | 877 Cr | 877 Cr | 877 Cr | 877 Cr | 877 Cr |
| Reserves | 49,576 Cr | 32,354 Cr | 33,016 Cr | 23,067 Cr | 25,376 Cr | 27,950 Cr | 35,119 Cr | 54,379 Cr | 47,782 Cr | 58,419 Cr |
| Borrowings | — | 0 Cr | 0 Cr | — | — | — | — | 0 Cr | — | — |
| Other liabilities | — | 21,196 Cr | 22,023 Cr | 96,637 Cr | 1,14,012 Cr | 1,23,014 Cr | 1,26,735 Cr | 30,435 Cr | 1,46,110 Cr | 1,46,436 Cr |
| Total liabilities | 50,006 Cr | 53,989 Cr | 55,916 Cr | 1,20,581 Cr | 1,40,265 Cr | 1,51,841 Cr | 1,62,731 Cr | 85,692 Cr | 1,94,769 Cr | 2,05,733 Cr |
| Fixed assets (net) | — | — | — | 209 Cr | 200 Cr | 200 Cr | 324 Cr | — | 327 Cr | 332 Cr |
| CWIP | — | — | — | — | — | — | — | — | — | — |
| Investments | — | — | — | 70,918 Cr | 93,990 Cr | 1,04,677 Cr | 1,14,738 Cr | — | 1,43,280 Cr | 1,48,373 Cr |
| Loans & advances | — | — | — | 235 Cr | 213 Cr | 190 Cr | 170 Cr | — | 137 Cr | 125 Cr |
| Cash & bank | 12,231 Cr | 14,257 Cr | 12,933 Cr | 16,107 Cr | 18,589 Cr | 21,451 Cr | 23,702 Cr | 24,855 Cr | 25,280 Cr | 28,489 Cr |
| Other assets | 37,774 Cr | 39,732 Cr | 42,983 Cr | 33,113 Cr | 27,273 Cr | 25,322 Cr | 23,796 Cr | 60,837 Cr | 25,746 Cr | 28,414 Cr |
| Total assets | 50,006 Cr | 53,989 Cr | 55,916 Cr | 1,20,581 Cr | 1,40,265 Cr | 1,51,841 Cr | 1,62,731 Cr | 85,692 Cr | 1,94,769 Cr | 2,05,733 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 8,082 Cr | 8,837 Cr | 7,604 Cr | 8,617 Cr | 13,284 Cr | 9,007 Cr | 11,722 Cr | 11,144 Cr | 1,976 Cr | 466 Cr |
| Cash from investing | -4,534 Cr | -5,502 Cr | -7,865 Cr | -4,595 Cr | -10,453 Cr | -6,679 Cr | -9,999 Cr | -8,872 Cr | -926 Cr | -2,075 Cr |
| Cash from financing | -1,035 Cr | -1,206 Cr | -1,428 Cr | -1,428 Cr | 0 Cr | 0 Cr | -395 Cr | -1,263 Cr | -1,754 Cr | -1,754 Cr |
| Net cash flow | 2,452 Cr | 2,026 Cr | -1,324 Cr | 3,174 Cr | 2,482 Cr | 2,863 Cr | 2,251 Cr | 1,153 Cr | -53 Cr | -7 Cr |
| Free cash flow (OCF − Capex) | 8,078 Cr | 8,821 Cr | 7,564 Cr | 8,614 Cr | 13,278 Cr | 8,992 Cr | 11,588 Cr | 11,140 Cr | 1,976 Cr | 464 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | — | — | — | — | — | — | — | — | — |
| ROE % | 6.0% | 9.6% | 8.1% | -0.8% | 7.6% | 8.3% | 19.2% | 12.1% | 15.3% | 16.3% |
| Debtor days | — | — | — | — | — | — | — | — | — | — |
| Inventory days | — | — | — | — | — | — | — | — | — | — |
| Days payable | — | — | — | — | — | — | — | — | — | — |
| Cash conversion cycle | — | — | — | — | — | — | — | — | — | — |
| Debt / equity | — | 0.00 | 0.00 | — | — | — | — | 0.00 | — | — |
| Current ratio | — | — | — | 0.76 | 0.69 | 0.65 | 0.62 | — | 0.58 | 0.60 |
| Net debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
Regulatory ratios (as filed, standalone basis)
IRDAI ratios as filed with results. Key metrics may show the investor-deck figure, which can differ.
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Solvency ratio | 153.0% | 174.0% | 196.0% | 261.0% | — | 370.0% | 421.0% |
| Claims ratio | 97.5% | 92.4% | 93.2% | 91.4% | — | 82.2% | 85.4% |
| Combined ratio | 114.4% | 112.0% | 112.1% | 109.3% | — | 108.8% | 106.0% |
| Expenses of management ratio | 0.8% | 0.7% | 1.0% | 1.2% | — | 1.1% | 1.0% |
| Net retention ratio | 91.4% | 89.8% | 89.8% | 92.0% | — | 92.0% | 92.2% |