General Insurance Corporation of India (GIC Re) reported a 10 per cent year-on-year (yoy) increase in first quarter standalone net profit at ₹1,922 crore against ₹1,752 crore in the year ago quarter, with the bottomline being supported by other income, reversal of previously recognised premium-deficiency provision and a decline in claims paid. GIC Re’s net premium earned (net of reinsurance) in Q1FY27 was almost flat at ₹11,081 crore (₹11,088 crore in Q1FY26). Income from investments was about 4 per cent lower at ₹2,171 crore (₹2,261 crore). Other income jumped to ₹77.45 crore (₹2.68 crore). Net commission paid (net of commission received on reinsurance) rose 29 per cent to ₹2387 crire (₹1,849 crore). The company saw a ₹53.30 crore reversal of previously recognized premium-deficiency provision against a ₹50.90 crore provision made in Q1FY26 for premium-deficiency. Claims paid declined about 8 per cent yoy to ₹7,287 crore (₹7,906 crore). Underwriting loss was lower at ₹801 crore against ₹910 crore in the year ago quarter. The investment book nudged up about 2 per cent yoy to ₹1,48,378 crore (₹1,45,716 crore). Published on August 13, 2026