GIC Re sees net profit jump over 90%

Reinsurer General Insurance Corporation of India Ltd.’s net profit increased by 90% year-on-year to 34.17 billion Indian rupees ($413.8 million) in the first quarter of the year, despite underwriting profits shrinking 61% to INR8.89 billion, MSN reported citing The Times of India. The reinsurer saw gross premium income fall by 15.3% year-on-year to INR365.9 billion.