GICRE
General Insurance Corporation of India share price & financials
- Price
- ₹362
- Market cap
- ₹63.0k Cr
- Sector
- Financial Services
- Calls analysed
- 7
General Insurance Corporation of India Q1 FY27
What went well
- Gross premium income for Q1 FY27 increased to INR13,475.36 crores from INR12,388.01 crores in the corresponding period of the previous year, representing an 8.78% YoY growth.
- Incurred claim ratio improved significantly to 85.04% in Q1 FY27 compared to 90.42% in the previous year's corresponding quarter.
- Combined ratio showed a positive trend, decreasing to 104.88% from 106.94% in the prior year period.
What to watch
- Investment income for Q1 FY27 slightly declined to INR3,265.51 crores from INR3,313.74 crores YoY.
- Net worth excluding fair value change decreased from INR51,000 crores in March 2026 to INR45,000 crores in June 2026.
What General Insurance Corporation of India does
General Insurance Corporation of India (GIC Re) was formed in 1972 under the GIBNA Act to superintend and carry on general insurance/reinsurance business in India. It is the sole Indian-registered reinsurer and the dominant domestic player, taking mandatory (obligatory) cessions from every non-life insurer in India as well as voluntary treaty and facultative business, while also writing international reinsurance for cedants across the Afro-Asian region and beyond. Key lines targeted are property/fire, agriculture/crop, motor, health, life and liability reinsurance. It earns premium income by accepting a share of risk ceded by direct insurers in exchange for reinsurance premium, less claims paid and commissions.
Segments
- Fire
- Agriculture / Crop Reinsurance
- Motor
- Health
- Life
- Miscellaneous / Liability
- Countries with reinsurance presence
- ~137 countries
- Direct insurers reinsured in India
- 59 general and life insurance companies
- Employee strength
- 501 employees
- Overseas branch offices
- London, Malaysia (Dubai branch now in run-off)
- Wholly-owned overseas subsidiaries
- GIC Re South Africa Ltd (Johannesburg), GIC Re India Corporate Member Ltd (London, Lloyd's syndicate), GIC Perestrakhovanie LLC (Moscow)
- Credit rating
- A- (Excellent), A.M. Best Financial Strength Rating
Guidance record · Q1 FY27
what the last two calls moved 15 tracked 3 delivered 3 missed 9 open- CAT Reserve Corpus went quiet said Q4 FY25 Promised: Rs. 5,000 crores Q1 FY27: No update provided on the CAT reserve corpus in the Q1 FY27 earnings call.
- Domestic Combined Ratio at risk said Q4 FY26 Promised: hold up at 101-102% Q1 FY27: Q1 FY27 domestic combined ratio reported at 107.5%, significantly above the target range of 101-102%.
- Overall Combined Ratio delivered said Q4 FY25 Promised: around 106%, 107% figure Q4 FY26: Full-year FY26 combined ratio reported at 106.02%, meeting the 'around 106%, 107%' target.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 1.5%, net profit down 31.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12,378 | 11,144 | 13,209 | 14,623 | 12,755 +3% | 12,589 +13% | 13,018 −1% | 14,401 −2% |
| EBITDA | 2,380 | 1,929 | 2,998 | 2,605 | 2,762 +16% | 2,366 +23% | 2,463 −18% | 2,021 −22% |
| Net profit | 1,856 | 1,677 | 2,499 | 2,531 | 2,874 +55% | 1,726 +3% | 2,533 +1% | 1,744 −31% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −5.0% 1Y
1Y: ₹367.65 on 10 Sept 2025 → ₹349.4. High ₹409.35 (4 May 2026), low ₹343.7 (10 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- +1.0%
- 17 Aug
- Q4 FY26
- −2.0%
- 8 Jun
- Q3 FY26
- −1.3%
- 11 Feb
- Q2 FY26
- +0.5%
- 17 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 4.4% a year over 3 years, FY23 to FY26. Operating margin widened to 19.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹46.6k Cr | ₹45.6k Cr | ₹49.6k Cr | ₹53.0k Cr |
| Operating profit | ₹6.9k Cr | ₹7.0k Cr | ₹8.8k Cr | ₹10.2k Cr |
| Operating margin | 14.8% | 15.4% | 17.7% | 19.2% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹6.9k Cr | ₹6.7k Cr | ₹7.4k Cr | ₹9.7k Cr |
| Net margin | 14.7% | 14.6% | 15.0% | 18.2% |
| Cash from operations | ₹11.7k Cr | ₹-212 Cr | ₹2.0k Cr | ₹466 Cr |
| Free cash flow | ₹11.6k Cr | ₹-217 Cr | ₹2.0k Cr | ₹453 Cr |
| ROCE | 20.0% | 13.0% | 13.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹877 Cr | ₹877 Cr | ₹877 Cr | ₹877 Cr | ₹877 Cr | ₹877 Cr |
| Reserves | ₹31.6k Cr | ₹35.1k Cr | ₹44.3k Cr | ₹54.4k Cr | ₹61.7k Cr | ₹69.6k Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹107.8k Cr | ₹115.8k Cr | ₹117.5k Cr | ₹129.2k Cr | ₹136.0k Cr | ₹135.3k Cr |
| Total liabilities | ₹140.3k Cr | ₹151.8k Cr | ₹162.7k Cr | ₹184.5k Cr | ₹198.6k Cr | ₹205.7k Cr |
| Fixed assets | ₹200 Cr | ₹200 Cr | ₹324 Cr | ₹318 Cr | ₹295 Cr | ₹332 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹94.0k Cr | ₹104.7k Cr | ₹114.7k Cr | ₹135.8k Cr | ₹145.3k Cr | ₹148.4k Cr |
| Other assets | ₹46.1k Cr | ₹47.0k Cr | ₹47.7k Cr | ₹48.4k Cr | ₹53.1k Cr | ₹57.0k Cr |
| Total assets | ₹140.3k Cr | ₹151.8k Cr | ₹162.7k Cr | ₹184.5k Cr | ₹198.6k Cr | ₹205.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −5.00 pp while DIIs added +4.44 pp. The shareholder count shrank 1% to 2,24,351.
- Promoters
- 77.4%
- FIIs
- 2.4%
- DIIs
- 17.7%
- Public
- 2.5%
Since Jun 2025
- Promoters −5.00 pp
- DIIs +4.44 pp
- FIIs +0.31 pp
How it drifted, 12 quarters
Over this window promoters fell from 85.8% to 77.4% — −8.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 85.8%, FIIs 0.9%, DIIs 11.0%, Public 2.3%.Dec '23: Promoters 85.8%, FIIs 0.9%, DIIs 11.1%, Public 2.1%.Mar '24: Promoters 85.8%, FIIs 0.9%, DIIs 11.1%, Public 2.3%.Jun '24: Promoters 85.8%, FIIs 1.1%, DIIs 10.9%, Public 2.3%.Sep '24: Promoters 82.4%, FIIs 1.3%, DIIs 13.7%, Public 2.6%.Dec '24: Promoters 82.4%, FIIs 1.8%, DIIs 13.7%, Public 2.1%.Mar '25: Promoters 82.4%, FIIs 1.9%, DIIs 13.7%, Public 2.0%.Jun '25: Promoters 82.4%, FIIs 2.1%, DIIs 13.3%, Public 2.2%.Sep '25: Promoters 82.4%, FIIs 2.1%, DIIs 13.1%, Public 2.4%.Dec '25: Promoters 82.4%, FIIs 2.1%, DIIs 13.3%, Public 2.2%.Mar '26: Promoters 82.4%, FIIs 2.0%, DIIs 13.6%, Public 2.0%.Jun '26: Promoters 77.4%, FIIs 2.4%, DIIs 17.7%, Public 2.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- ICICI Prudential Equity Savings Fund Mutual fund newly disclosed 2.10% held
- Life Insurance Corporation Of India Insurer +1.84 pp 11.65% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of General Insurance Corporation of India above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| President Of India | 77.40% | −5.00 pp |
| Life Insurance Corporation Of India Insurer | 11.65% | +1.84 pp |
| ICICI Prudential Equity Savings Fund Mutual fund | 2.10% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in GICRE
Filings to Aug 2026
0 new, 5 added, 2 trimmed, 0 sold out — net −1.18 L shares (−2.3%).
- Held by funds
- ₹179 Cr
- 8 schemes
- Biggest holder
- SBI PSU Fund
- ₹147 Cr · 2.2% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI PSU Fund SBI Mutual Fund | ₹147 Cr | held | May '24 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹13 Cr | +0.22 L | Mar '21 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹9 Cr | +0.05 L | Mar '21 |
| SBI Nifty Midcap 150 Index Fund SBI Mutual Fund | ₹4 Cr | +0.05 L | Oct '22 |
| SBI Quant Fund SBI Mutual Fund | ₹3 Cr | −1.50 L | Apr '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹1 Cr | −0.00 L | Sep '24 |
| SBI Nifty Midcap150 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | Mar '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 2 trimmed — net −1.18 L shares (−2.3%)
- Funds are sitting on
- -1%
- vs est. average cost
- Held by funds
- ₹179 Cr
- 8 schemes · ≈ 0.29% of the company
- Biggest holder
- SBI PSU Fund
- ₹147 Cr · 2.2% of that fund
- Longest holder
- Nippon India ETF Nifty Midcap 150
- 5y 6m · since Mar '21
Shares held by these funds +2114%
Aug '23 51.52 L shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse General Insurance Corporation of India
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