BusinessPhoto: Mint CompaniesGIC Re Q2 Profit Falls Despite NSE Stake Sale Gain
General Insurance Corp. of India (GIC Re) reported a 14.3% decline in standalone net profit to ₹2,455.62 crore for July-September. A one-time ₹1,082 crore gain from selling part of its National Stock Exchange (NSE) stake cushioned losses caused by flood and cyclone claims. Without this gain, pre-tax profit would have dropped nearly 42% year-on-year. Investment income rose 11.8% to ₹4,238.26 crore, while total income increased 13.8% to ₹13,469.45 crore. Chairman Hitesh Joshi noted unrealised NSE gains go to fair value change account, not investment income.
Mint Companies·




