The company's net income stood at Rs 603.4 crore in the corresponding period of the preceding fiscal.

Net premium rose to Rs 38,215.52 crore from Rs 33,221.19 crore, while the earned premium stood at Rs 36,476.66 crore, up from Rs 32,622.80 ...

The company said it wrote gross premium of Rs 9,511.91 crore during the quarter, higher than Rs 8,656.75 crore a year ago period.

The insurer had registered a net profit of Rs 770 crore in the corresponding period of the last financial year.

The insurer had registered a net profit of Rs 751.60 crore in January-March quarter of 2017-18.

Company’s performance is aided by better underwriting and lower claims

GIC is the largest reinsurance company in India in terms of gross premiums in fiscal 2017.

“Last year, GIC Re had grown at 82% on the back of the crop insurance scheme”

The issue received bids for 8,88,39,152 shares as against 12,47,00,000 shares on offer.

Brokerages across the board have recommended subscribing to GIC Re IPO.

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