GIC Re swings to profit in third quarter

Reinsurer General Insurance Corporation of India Ltd. reported a net profit of 12 billion Indian rupees ($145.4 million) in the third quarter ended December 2022 as compared to a loss of INR285 million in the year-ago period, Business Standard reported. The state-owned reinsurer's gross premium declined 1.4% year-on-year to INR101 billion.