General Insurance Corporation of India (GICRE) — Board Meeting | 13 August 2026(4 announcements)

GIC Re reported strong Q1 FY27 results with Gross Premium Income rising 8.8% YoY to ₹13,475.36 crore, driven by domestic growth (+12.3%) and improved underwriting metrics. Incurred Claims ratio fell to 85.04% from 90.42%, reducing Underwriting Loss by 20.26% to ₹723.87 crore. Profit After Tax grew 9.69% to ₹1,922.04 crore, while Solvency Ratio improved to 4.32. The company highlighted diversified reinsurance portfolio performance across Fire, Marine, and Life segments, with Life premium surging 145.23%.

The Board of Directors of General Insurance Corporation of India (GICRE) convened on 13 August 2026 and decided to retain Mr. Satheesh Kumar as Company Secretary and Key Managerial Personnel after Mr. Sanjeeb Mishra declined the appointment due to personal reasons, following his earlier approval on 15 May 2026.

The Board approved unaudited standalone and consolidated financial results for Q1 FY2026-27 ending 30 June 2026, including a [amount not verified] profit after tax and ₹10 dividend per share. Ratings from AM Best were reaffirmed, and a new catastrophe reserve was established with a ₹5 lakh cap. Employee benefit provisions for fixed-term staff were added, while Ind AS reporting remains deferred to April 2027.

The Ministry of Finance appointed Hiteshkumar Kismatbhai Bhandari as a Part-time Non-Official Director on the Board of General Insurance Corporation of India for three years starting 12 August 2026, as per a letter dated 12 August 2026.