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GIC Re reports loss after agriculture, flood claims

Posted On: Nov. 12, 2019 5:51 AM CST

Higher agriculture losses and flood claims across the country resulted in General Insurance Corporation of India reporting a net loss of nearly 6 billion Indian rupees ($84 million) in the quarter ended Sep. 30, Money Control reported. That’s compared with a net profit of more than INR 5 billion in the same period of 2018. Net premiums increased 8.2% year-on-year to nearly INR 120 billion.

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