ALFA Finder
The call ran from 11:31 AM to 12:11 PM IST (40 min).
Key takeaways
Premium growth is strong, but Q2 profit fell year on year to ₹2,455.62 Cr as the claims ratio rose to 87.39%. Management deflected on catastrophe losses, combined-ratio targets and Ind AS impact.
| Revenue growth | Gross premium +16.9% YoY in Q2; H1 +12.3%; domestic-led, international flat. |
|---|---|
| Margins | Combined ratio 110.23% vs 109.15%; international improved to 108.24% from 119.87%. |
| Demand visibility | Domestic property rates reportedly holding; international competition expected to persist. |
| Management confidence | Defensive; deflected catastrophe-loss, combined-ratio and Ind AS questions. |
Growth
Gross premium rose 16.9% YoY to ₹11,228 Cr in Q2 and 12.3% to ₹24,704 Cr in H1. Domestic grew 15.9%; international was flat at ₹4,909 Cr.
Outlook
No numeric forward guidance; catastrophe-loss guidance deferred to FY28. Gujarat flood provision of ₹450-500 Cr. Competition expected to persist through H2.
Risks
Q2 claims ratio 87.39% vs 81.50%; combined ratio 110.23%. Management refused catastrophe-loss, combined-ratio and Ind AS guidance. Reserve strengthening ongoing.
Last quarter's promises, checked
Delivered
- Guided ~10% growth → H1 +12.3% (= BEAT)
Partly delivered
- Guided intl CR 95 in 2–3 yrs → 108.24% from 119.87% (= PARTIAL; not yet due)
Missed
- Guided 1pp/yr CR cut → Q2 CR 110.23% vs 109.15% (= MISS)
- Guided foreign to grow 'significantly' → international flat at ₹4,909 Cr (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
General Insurance Corporation of India Q2 FY27 Results: Net Profit ₹2,966 Cr, Up 3.2% YoY
General Insurance Corporation of India reported revenue from operations of ₹13,540 Cr (+17.8% YoY) and net profit of ₹2,966 Cr (+3.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹2,966 Cr · +3.2% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting 10% premium growth and long-term combined ratio targets of 103% domestic and 95% international.
Growth they described
Gross premium grew 8.7% YoY; underwriting losses narrowed significantly with a combined ratio improvement to 104.88%.
Call details
| Company | General Insurance Corporation Of India |
|---|---|
| NSE symbol | GICRE |
| ISIN | INE481Y01014 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 11:30 AM IST |
| Length | 40 min |
| Audio | Our stream on YouTube ↗ |
General Insurance Corporation Of India: key numbers
- Share price
- ₹342.30
- Market cap
- ₹60,053 Cr
- Revenue (annual)
- ₹52,986 Cr
- Net profit (annual)
- ₹9,662 Cr
- P/E (TTM)
- 6.7×Sector 20.6×
- Promoter holding
- 77.40%+0.00% QoQ
- FII holding
- 2.40%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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