Gross premium income rose 8.8% to Rs 13,475 crore from Rs 12,388 crore in the year-ago quarter. The incurred claims ratio improved to 85.04% from 90.42%, while underwriting loss narrowed by 20.3% to Rs 724 crore from Rs 908 crore a year earlier.
GIC Re’s combined ratio, which measures claims and expenses against premiums, improved to 104.88% from 106.94%. A ratio above 100% indicates an underwriting loss.
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