New Delhi: GIC Re on Thursday posted a 10 percent increase in net profit to Rs 1,922 crore in the first quarter ended June 2026.

The state-owned reinsurance company had earned Rs 1,752 crore in the same quarter in the previous financial year.

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Total income of the re-insurer declined marginally to Rs 13,330 crore in the June quarter compared to Rs 13,352 crore in the same quarter a year ago, GIC Re said in a regulatory filing.

During the reporting quarter, the company collected a gross premium of Rs 13,475 crore against Rs 12,388 crore in the year-ago period.

The company's underwriting loss narrowed to Rs 724 crore as against Rs 907 crore in the same period a year ago.

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The solvency ratio increased to 4.32 from 3.85 at the end of June 2025.

Total assets of the company rose to Rs 2,07,790 crore against Rs 1,97,540 crore in the previous year.

Net Worth of the company (including fair value change account) increased to Rs 90,790 crore as against Rs 89,513 crore as on June 30, 2025.

GIC Re is the largest reinsurer in the domestic reinsurance market and leads most of the Indian companies' treaty programmes and facultative placements.

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