GIC Re's profit slumps 31%

Posted On: May. 24, 2019 6:12 AM CST

Reinsurer General Insurance Corp. of India's net profit declined more than 31% year over year to 22 billion Indian rupees ($316 million) in the financial year ended March 31, Business Standard reported. Gross written premiums grew nearly 6% to INR 442 billion from INR 418 billion in the financial year ended March 31, 2018.