2014-15 was another year of growth at GIC Re. The Indian Reinsurer has earned a profit before tax of 2827 crores during the year with a growth of 22.75 %. The profit after tax would be 2693 crores.
Mr Ashok Kumar Roy, Chairman-cum-Managing Director, GIC Re, presented the dividend cheque for Rs. 540 cores for the fiscal 2014-15 to Hon’ble Union Finance Minister Shri Arun Jaitley in New Delhi on 24th of July 2015. Mrs Alice G Vaidyan and Mr B Balachandra, General Managers,GIC Re were also present on this occasion.
During 2014-15 the Corporation wrote a gross global premium of 15,183 crores compared to Rs 14,680 crore in fiscal 2013-14 registering a growth of 3.4 % which is considered reasonable in the current backdrop of global reinsurance market scenario.
Total Investments of the Corporation as on 31.03.2015 stood at 27,972 crore while in the previous year, the figure was 25,580 crore. The income from investments during the year was 4253 crore.
The business mix stood at 57-43 per cent respectively for domestic and overseas business. Our long term plan is to bring it to 50-50 in the years ahead.
The Corporation’s Assets rose to 78,093 crore during 2014-15. The net worth of the Corporation at the end of 2014-15 stood at 41148.46 crore including fair value change account.
Ranked 13thLargest Global Reinsurer Group(compiled by A M Best)