India · Delayed Price · Currency is INR General Insurance Corporation of India Earnings Call Transcripts
Fiscal Year 2026
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Gross premium and profit after tax rose year-over-year, with improved combined and solvency ratios. Market remains competitive with soft pricing, so single-digit growth and 1-2% combined ratio improvement are targeted for FY 2027.
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Gross premium and investment income grew year-over-year, with improved combined and solvency ratios. Management expects stable, sustainable returns, targeting 1% annual improvement in combined ratio and 8%-10% medium-term growth, while addressing segment-specific challenges and maintaining strong capital discipline.
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Q2 FY 2026 delivered strong profit growth and improved combined ratio, driven by disciplined underwriting and favorable claims. Domestic and international premiums grew 4.6% and 9.4% respectively, with robust capital adequacy and a positive outlook for international business.
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Q1 FY26 saw strong profit growth, improved combined and solvency ratios, and robust investment income despite large claims. International business is set for double-digit growth, with overall premium growth guided at 9-10% and a focus on profitable, diversified expansion.
Fiscal Year 2025
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Q4 FY25 saw strong premium growth and improved solvency, though profits declined year-over-year due to higher claims and catastrophe losses. International business rebounded on a rating upgrade, while health and crop growth is expected to moderate. Combined ratio is targeted to improve further in FY26.
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Q3 FY 2025 delivered strong premium growth, improved combined ratios, and robust profitability, driven by disciplined underwriting and diversification, especially in health. International business is set to rebound with a better credit rating, while domestic growth remains strong.
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Q2 FY25 saw improved profitability, a stronger solvency ratio, and a significant AM Best rating upgrade. Domestic premium grew robustly, while international business is set for recovery post-rating upgrade, with a continued focus on risk management and combined ratio improvement.
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Gross premium and profit after tax rose sharply year-over-year, driven by domestic growth and accounting changes, while the combined ratio improved. International business declined due to discontinued contracts, and provisions were made for recent catastrophe events. Guidance remains for 15-16% annual growth, with a focus on portfolio diversification.