GIC Re swings to profit

Reinsurer General Insurance Corp. of India's profit after tax totaled nearly 7 billion Indian rupees ($109 million) in the fiscal third quarter ended Dec. 31, 2017, compared with a loss of more than INR 4 billion in the quarter ended Dec. 31, 2016, The Hindu Business Line reported. Gross written premiums grew 8% year over year to INR 88.7 billion. GIC Re earned 75% of its income in the domestic market and 25% from the international market in the nine months ended Dec. 31, 2017.

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