# GIC Re share price today (General Insurance Corporation of India, NSE: GICRE)

> GIC Re share price today: ₹323.85 at the NSE close on 4 November 2026, down 14.6% in a year. General Insurance Corporation of India (NSE: GICRE) is worth ₹56,789 crore, trades at a P/BV of 0.8 and has closed between ₹310.85 and ₹400.40 over the past 52 weeks. > General Insurance Corporation of India's earnings have grown faster than its share price. Earnings per share grew +30.0% in a year while the price moved −14.6%. GICRE · Finance - Non Life Insurance · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/general-insurance-corporation-of-india

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹323.85 (−14.6% in a year)
- P/BV: 0.8× (lower than 82% of the last 8.2 years)
- Revenue (Sep 2026): ₹14,985 Cr (+17.5% on a year ago)
- Profit (Sep 2026): ₹2,966 Cr (+3.2% on a year ago)
- Net margin: 19.8% (−2.7 points on a year ago)
- ROE: 15%, FY26
- ROA: 2.98%, latest

The main question: yearly earnings per share moved +30.0% while the share price moved −14.6%. ## What is the GIC Re share price today? General Insurance Corporation of India's share price was ₹323.85 at the close on 4 November 2026. It has been falling for 17 weeks. That is 9.8% below its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 27 weeks running. In the last 52 weeks it traded between ₹311 and ₹400, and at that close it sat 15% of the way up from that low. Over the last 9 years the share price moved −22% while the NIFTY 500 moved +137%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 5 June 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at GIC Re this quarter? Three changes stood out: revenue grew again in the September 2026 quarter, highest quarterly profit in 16 quarters and highest quarterly revenue in 16 quarters. 1. Revenue grew again in the September 2026 quarter Revenue was ₹14,985 crore, +17.5% on a year earlier (₹12,755 crore), after 2 quarters of decline. 2. Highest quarterly profit in 16 quarters Profit of ₹2,966 crore in the September 2026 quarter is the highest of the last 16 quarters. 3. Highest quarterly revenue in 16 quarters Revenue of ₹14,985 crore in the September 2026 quarter is the highest of the last 16 quarters. ## What dividend does GIC Re pay? GIC Re paid ₹13.25 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 4.09% at the ₹323.85 close on 4 November 2026. The last was a dividend of ₹13.25 a share, ex-date 4 September 2026. ### GIC Re dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 4 Sep 2026 | ₹13.25 | Dividend | same day |
| 4 Sep 2025 | ₹10 | Dividend | 5 Sep 2025 |
| 11 Sep 2024 | ₹10 | Dividend | same day |
| 8 Sep 2023 | ₹7.20 | Dividend | same day |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 3 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. General Insurance Corporation of India paid out 24% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What are GIC Re's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), GIC Re reported total income of ₹14,985 crore, up 17.5% from ₹12,755 crore a year earlier, and a profit of ₹2,966 crore, up 3.2% from ₹2,874 crore. ### GIC Re results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Total income | ₹14,985 crore | ₹12,755 crore | +17.5% |
| Profit | ₹2,966 crore | ₹2,874 crore | +3.2% |
| Earnings per share | ₹16.90 | ₹16.38 | +3.2% |
| Net margin | 19.8% | 22.5% | −2.7 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 17 August 2026, about April to June 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Income and profit in ₹ crore.)

## What is the GIC Re share price history? GIC Re closed at ₹323.85 on 4 November 2026, down 14.6% from ₹379.15 a year earlier (7 November 2025) and up 135.0% over five years. Its highest weekly close since October 2017 was ₹501.00 on 20 December 2024. ### GIC Re share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹310.85 | +4.2% |
| 1 month ago · 1 Oct 2026 | ₹323.90 | 0.0% |
| 6 months ago · 8 May 2026 | ₹395.25 | −18.1% |
| 1 year ago · 7 Nov 2025 | ₹379.15 | −14.6% |
| 3 years ago · 3 Nov 2023 | ₹226.75 | +42.8% |
| 5 years ago · 4 Nov 2021 | ₹137.80 | +135.0% |
| Earliest weekly close in our records · 27 Oct 2017 | ₹417.43 | −22.4% |
| Highest weekly close since October 2017 · 20 Dec 2024 | ₹501.00 | −35.4% |
| Lowest weekly close since October 2017 · 20 Mar 2020 | ₹94.95 | +241.1% |
| 52-week high (weekly close) · 17 Apr 2026 | ₹400.40 | −19.1% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹310.85 | +4.2% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (478 weekly closes from 27 October 2017 to 4 November 2026.)

## What is the latest news on GIC Re? 4 Nov 2026: GIC Re closed at ₹323.85, up 4.2% on the week and up 0.0% on the month. Results for July to September 2026: Total income up 17.5% and profit up 3.2% on a year earlier. ### Earlier

- 4 Sep 2026: ex-date for a dividend of ₹13.25 a share. - 17 Aug 2026: GIC Re held its results call for April to June 2026. Management guided: Overall premium growth goal roughly 10%; foreign growth expected more pronounced than domestic, subject to mid-year cycle review. ## What did GIC Re management say on the latest results call? On the call for April to June 2026, held on 17 August 2026, GIC Re's management guided: Overall premium growth goal roughly 10%; foreign growth expected more pronounced than domestic, subject to mid-year cycle review. > “We would like to have a combined ratio target for the domestic book of approximately 103 and for the foreign book of 95, in line with global markets. - Hitesh Joshi”
> Chairman & Managing Director, on the call for April to June 2026

### What management guided

- Medium-term domestic:international risk-mix goal 60:40; domestic market share maintained, foreign client recovery pursued, and life remains a growth focus. - Domestic underwriting combined ratio planned at approximately 103, with no timing specified. - Foreign underwriting combined ratio planned at 95 within 2-3 years. - Foreign premium recovery to the earlier level may take 3-4 years rather than 2 years. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/5758/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 17 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What is the future of GIC Re? What is changing in the business? What is changing at GIC Re, from the latest results and calls: combined ratio improvement (1% annual goal), international book recovery via am best rating restoration and portfolio mix rebalancing (60/40 domestic/international long-term goal). - Combined Ratio Improvement (1% annual goal). 9M FY26 adjusted CR 85.1% vs 89.1% on a year earlier, 400 basis points structural improvement; management committed to 1% annual combined ratio reduction in every call. ⚠ estimate
- International Book Recovery via AM Best Rating Restoration. AM Best A-minus restored October 2024, January 2026 renewals first real test; 3-5 year rebuild of lost Japan/Taiwan panels is the constraint. ⚠ estimate
- Portfolio Mix Rebalancing (60/40 Domestic/International Long-Term Goal). Shifting from current 77/23 domestic-international split to 60/40, international at improving margins is the long-term ROE driver. ⚠ estimate
- Income from financial assets Compounding (₹11,204 crore annual base, 10% growth). Income from financial assets ₹11,204 crore FY25 (+10% on a year earlier on interest/dividend component); steady floor offsetting underwriting volatility regardless of CR trajectory. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 17 May 2026.)

## What could change the GIC Re story? What are the risks? Motor and Cargo combined ratios catastrophically high; Israel/Turkey Motor and China/Israel Cargo exposure not contained, October to December 2025 profit declined despite revenue growth. ### The main risks

- International Underwriting Hemorrhage (Motor 190% CR, Cargo 282% CR): Motor and Cargo combined ratios catastrophically high; Israel/Turkey Motor and China/Israel Cargo exposure not contained, October to December 2025 profit declined despite revenue growth. ✓ fact
- CAT Event Year, Climate Tail Risk: January to March 2025 hurt by LA fires, Dubai floods, Nepal floods, CAT events compress reported profit by ₹300-600 Cr in a single quarter. ✓ fact
- Obligatory Cession Reduction, Regulatory Risk: Any reduction in obligatory cession percentage would reduce GIC Re's compulsory premium base; industry lobbying ongoing but no official guidance. ✓ fact

(Our read after the latest results, written 17 May 2026.)

## What to watch in GIC Re's next results? When GIC Re reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Gujarat flood claims development; check whether provisions run off or require additions in the next results. - What to check (from the call)
- Gujarat flood claims development; check whether provisions run off or require additions in the next results. - Overseas portfolio actions to translate into sustained underwriting improvement; check property, motor, aviation and cargo quality. - Domestic renewals and property-market discipline to offset motor treaty deterioration; check the next combined-ratio trajectory. - Life portfolio to show cycle-led loss improvement; check retail-health growth, claims emergence and reserve-strengthening effects. ## Which stock lists is GIC Re on? GIC Re is on 3 of our India lists: 52 week high & low, Dividend stocks and Small & mid cap stocks. - [52 week high & low 52-week position: At 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Dividend stocks Regular dividend yield (%): 4.09](https://www.sectoralpha.in/dividend-stocks-india)
- [Small & mid cap stocks Size rank in India: 181](https://www.sectoralpha.in/small-cap-stocks-india)

## Is GIC Re profitable? General Insurance Corporation of India earned ₹2,966 Cr of net profit in the Sep 2026 quarter, +3.2% on the same quarter a year earlier. Full-year FY26 profit was ₹9,662 Cr. Over 10 years profit has grown 13.1% a year on average. That is 19.8% of the quarter's revenue. The same quarter a year earlier earned ₹2,874 Cr. For the full year, FY26 profit was ₹9,662 Cr (+30.0% on the year before). Why profit moved: revenue changed +17.5% on a year earlier and the margin moved −2.7 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed −5.9% and revenue +6.9%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does GIC Re make, and is it growing? General Insurance Corporation of India reported ₹14,985 Cr of income in the Sep 2026 quarter, +17.5% on the same quarter a year earlier. Over 10 years it has grown 13.2% a year on average. The last full year, FY26, came in at ₹52,986 Cr. The last four reported quarters add to ₹54,993 Cr. Why this happened. The rating was downgraded in July 2020 and restored to A-minus in October 2024. International premium grew 9.4% YoY in Q2 FY26 (Rs 4,909 Cr, 22% of mix). The January 2026 renewals included portfolio de-risking and new Fire business, validating the direction if not the magnitude. However, management explicitly walked back the '34% sustainable' and '17-20% YoY' international growth narratives, the correct frame is 8-10% CAGR over the medium term. The volume benefit of the rating is real but slow-moving; the profitability benefit requires correcting Motor, Cargo, and Life CRs simultaneously. FY26 revenue was ₹52,986 Cr, +6.8% on the year before. Recent pace: the last four quarters grew +6.9% on average, against 13.2% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +6.3%, against +8.6% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −6.4%, against +11.0% a year (rolling over). ## How much does GIC Re keep from what it earns? General Insurance Corporation of India's net margin was 19.8% in the Sep 2026 quarter, 2.7 percentage points lower than the same quarter a year ago. Across 13 years it has been between −0.4% and 21.3%. The latest quarter is within that range. Why this happened. The core profitability lever. GIC Re's underwriting discipline is visibly improving: Q2 FY26 combined ratio 109.15% vs 114.05% YoY; 9M FY26 adjusted CR 85.1% vs 89.1% YoY. Management is aiming for 1% annual improvement toward 100% combined ratio. Every 100bps of CR improvement translates to roughly Rs 400-500 Cr of additional underwriting profit at current premium volumes. The trajectory is real but slow, international segments (Motor 190%, Cargo 282%, Life 138%) remain significant drags and require multi-year correction. Why: the net margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason. ## How many of GIC Re's loans have gone bad? General Insurance Corporation of India does not report loan-quality figures this page can read, so this section says so rather than guess. No bad-loan figures are filed in a form this page can read, and none are guessed from the profit line. The income, margin and return sections carry what this business does report. Why this happened. Q2 FY26 income from financial assets Rs 3,791.67 Cr vs Rs 3,483.32 Cr YoY (+8.9%). This is the structural earnings floor that makes the stock un-blowable. Management is preparing for IFRS implementation which will mark the equity portfolio to market, potential volatility in reported earnings but not in underlying cash flows. Why: loan quality drives a lender, but its details (new bad loans, recoveries, money set aside) are not in our data for this company. The sections around this one carry what we can back up. ## How fast is GIC Re's loan book growing? General Insurance Corporation of India's revenue was ₹52,986 Cr in FY26, +6.8% on the year before, so the loan book is growing. The latest quarter was +17.5% on a year earlier. The net margin on that income is 19.8%, −2.7 percentage points on a year ago. Interest income stands in for the size of the loan book; changes in interest rates can move it a few points in any year. In short: a lender grows well when its loan book grows, its margin stays steady and its loans stay clean. Gross NPA is the loan-quality figure this page uses. ## What is GIC Re's P/BV ratio, and how does it compare with its own history? General Insurance Corporation of India's P/BV is 0.8×, near the low end of its own history: it has been lower only 18% of the time. Its usual P/BV (the middle reading) is 1.1×, over 8.2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year book value grew while the price moved −14.6%. Price and book value moved together, so the multiple stayed in its range. Where the price move came from: over 5 years the price moved +18.6% a year; about +18.5% a year came from book-value growth and about +0.1 percentage points from the multiple (roughly no change). The split is approximate (price return minus book-value growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the book value trend underneath matters more than the multiple. ## Is the GIC Re business getting better or worse? General Insurance Corporation of India's business is giving mixed signals. There is no clear direction across the growth lines, with ROE steady at 9.0%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the GIC Re story, and has it been checked? General Insurance Corporation of India's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: MID CONTRACTION. Still open: Motor and Cargo combined ratios catastrophically high; Israel/Turkey Motor and China/Israel Cargo exposure not contained, Q3 FY26 PAT declined despite revenue growth. Our read, 17 May 2026. From the numbers. Cycle is MID CONTRACTION with MIXED momentum. From the price. Price stage 4, week 17, below its 200-day line, relative strength falling. From the research. Where they disagree. Cycle is MID CONTRACTION with MIXED momentum. FII shareholding up to 1.93% (Mar 2025) from 0.87% (Mar 2024) signals institutional accumulation; DII up to 13.68% from 11.06%. Government promoter diluted slightly from 85.78% to 82.4%. What is proven. What is not proven yet. Motor and Cargo combined ratios catastrophically high; Israel/Turkey Motor and China/Israel Cargo exposure not contained, Q3 FY26 PAT declined despite revenue growth. The test written in advance. International Underwriting Hemorrhage (Motor 190% CR, Cargo 282% CR). Measured by: International Underwriting Hemorrhage (Motor 190% CR, Cargo 282% CR) Q4 FY26 international Motor and Cargo combined ratios (must show sequential improvement from 190% and 282%) by the next result. The test written in advance. Management Guidance Credibility, Systematic Downgrades. Measured by: Management Guidance Credibility, Systematic Downgrades Q4 FY26 call tone, does management maintain the 8-10% medium-term growth guidance without further downgrade? by the next result. The test written in advance. CAT Event Year, Climate Tail Risk. Measured by: CAT Event Year, Climate Tail Risk Global CAT event calendar; Q4 typically higher exposure; any reserve draw-down announcement by the next result. What the company does. AM Best rating restored to A-minus in October 2024 after a 4-year gap, the catalyst for reclaiming Japan, Taiwan, and other markets is real, but a 3-5 year rebuild timeline constrains the speed. Combined ratio improving sequentially (9M FY26 adjusted CR 85.1% vs 89.1% YoY) but international segments remain hemorrhaging: Motor 190%, Cargo 282%, Life 138%. The dot is where the company is now; the dashed line is the level that would settle the question; a tinted band is where management says it is heading. Lever 1 · Operating leverage: building. 9M FY26 adjusted CR 85.1% vs 89.1% YoY, 400bps structural improvement; management committed to 1% annual combined ratio reduction in every call. What proves it keeps working: Combined Ratio Improvement (1% annual goal). It stops working if Q4 FY26 international Motor and Cargo combined ratios (must show sequential improvement from 190% and 282%). Lever 10 · New geographies: building. AM Best A-minus restored October 2024, January 2026 renewals first real test; 3-5 year rebuild of lost Japan/Taiwan panels is the constraint. What proves it keeps working: International Book Recovery via AM Best Rating Restoration. It stops working if Q4 FY26 international Motor and Cargo combined ratios (must show sequential improvement from 190% and 282%). Lever 2 · Value-added mix: building. Shifting from current 77/23 domestic-international split to 60/40, international at improving margins is the long-term ROE driver. What proves it keeps working: Portfolio Mix Rebalancing (60/40 Domestic/International Long-Term Goal). It stops working if Q4 FY26 international Motor and Cargo combined ratios (must show sequential improvement from 190% and 282%). Lever 16 · Asset quality: building. Income from financial assets Rs 11,204 Cr FY25 (+10% YoY on interest/dividend component); steady floor offsetting underwriting volatility regardless of CR trajectory. What proves it keeps working: Income from financial assets Compounding (Rs 11,204 Cr annual base, 10% growth). It stops working if Q4 FY26 international Motor and Cargo combined ratios (must show sequential improvement from 190% and 282%). Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did GIC Re management deliver what it promised? What General Insurance Corporation of India's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. FY27 Growth Outlook Raised Without Reconciliation · 17 August 2026. In June 2026, management agreed that FY27 growth could be in the single digits and cautioned against chasing premium in a soft market. In August 2026, management set a goal of roughly 10%, with more pronounced growth expected internationally, but did not explain why the earlier low-growth and soft-cycle assumptions had changed. International Premium Growth Reversal · 1 June 2026. In the Nov 2025 call, management projected potential double-digit growth for the international/foreign business segment based on leveraging their restored credit rating in upcoming renewals. However, in the Jun 2026 call, management pivoted their position, acknowledging complete de-growth in the international piece and stating a need to "return to growth mode," contradicting their previous optimism by attributing the decline to portfolio pruning that had supposedly been ongoing over the last two years. Foreign Fire Segment Pivoted from Growth Driver to Decline · 1 June 2026. The Nov 2025 call specifically positioned the foreign fire segment as a primary growth engine for upcoming January renewals due to the company's A- rating restoration. By the Jun 2026 call, management confirmed a decline in the international fire portfolio and fundamentally shifted their narrative to downplay the segment, stating they are now focusing on other classes and territories instead of explaining the miss. International Growth Downgrade · 11 February 2026. In the August 2025 call, management was bullish, explicitly guiding for 17-20% year-on-year growth in the international segment for the current year. However, in the February 2026 call, they materially walked back this optimism, stating that reclaiming lost business will take 3-5 years and revising the medium-term growth outlook down to just 8-10%. Earlier call (Aug 2025): “Typically, international would grow about 17% to 20% year-on-year for this year... we are confident that we will get back those businesses that we lost.” Later call (Feb 2026): “Whatever business was lost during the downgrade cannot be reclaimed in a single year... We can expect a composite annual growth rate of 8-10% in the medium term.”

Every quote above is taken word for word from the company’s own earnings calls. ## How much does GIC Re earn on its equity and assets? We do not have a clean yearly return-on-equity history for General Insurance Corporation of India. For an insurer in particular, the usual bank ratios do not fit, so this page does not force them or estimate a series. The revenue, margin and ownership sections show what this company does report. ## Does GIC Re have too much debt? For a bank, borrowing is the raw material of the business, not a warning sign: it borrows money in order to lend it out. Its safety is read through its returns and its loans. Its safety is read from the bad-loan figures and the return on equity instead. For a manufacturer, debt is a claim on its profits. For a lender it is the stock it trades in, so the usual debt-to-equity test would mislead and is not used here. ## What is the GIC Re shareholding pattern? Promoters cut their stake in General Insurance Corporation of India by 5.0 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 77.4% of the company. Domestic institutions moved +4.0 points over the same period, to 17.7%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −5.0 points over 8 quarters, to 77.4%; Domestic institutions: +4.0 points over 8 quarters, to 17.7%; Foreign institutions: +1.1 points over 8 quarters, to 2.4%. Why the owners changed: promoters drove it (−5.0 points), with the other side taken by domestic institutions (+4.0 points). They reduced their stake. ## How far is GIC Re from balance-sheet trouble? For General Insurance Corporation of India, the Z-score is not used, because it was built for manufacturers, not lenders. For a lender, safety is read from its capital and bad-loan figures instead. ## How does GIC Re rank in its industry? 45.6 out of 100, rank 2 of 4 in Finance - Non Life Insurance, with 86% of the evidence available. General Insurance Corporation of India scores 45.6 out of 100 against the 4 companies it is compared with in Finance - Non Life Insurance, ranking 2. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 6.7 + 19.5 + 17.9 + 1.5 = 45.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if ROA turns down or gross NPA rises while the share price lags its sector. ## Which companies is GIC Re compared with? GIC Re ranks 2 of 4 Finance - Non Life Insurance companies on the 4-Factor Sector Score, with 45.6 out of 100. 1. [Star Health & Allied Insurance Company Ltd](https://www.sectoralpha.in/stocks/star-health-allied-insurance-company-ltd) STARHEALTH · quiet · Evidence leans up · 88% evidence 58.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.5/35 · Income 13.5% · Profit 43.6% · 86% evidence Capital efficiency 14.9/25 · ROA 3.7% · ROE 7.6% · GNPA n/a · 72% evidence Valuation 3.2/20 · P/BV 2.99× · P/BV÷ROE 0.39 · 100% evidence Relative strength 14.0/20 · Lead over its industry 7.7% · Lead over NIFTY 500 8.3% · 1 year 7.3% · 100% evidence · 4 of 12 weeks ahead Exact sum: 26.5 + 14.9 + 3.2 + 14 = 58.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. General Insurance Corporation of India this page GICRE · quiet · Evidence leans down · 86% evidence 45.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.7/35 · Income 6.3% · Profit -6.4% · 86% evidence Capital efficiency 19.5/25 · ROA 2.4% · ROE 14.6% · GNPA n/a · 72% evidence Valuation 17.9/20 · P/BV 0.74× · P/BV÷ROE 0.05 · 90% evidence Relative strength 1.5/20 · Lead over its industry -12.3% · Lead over NIFTY 500 -11.3% · 1 year -16.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 6.7 + 19.5 + 17.9 + 1.5 = 45.6 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 3. [ICICI Lombard General Insurance Company Ltd](https://www.sectoralpha.in/stocks/icici-lombard-general-insurance-company-ltd) ICICIGI · turning · Evidence leans down · 71% evidence 45.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.7/35 · Income 14% · Profit -8.8% · 86% evidence Capital efficiency 20.0/25 · ROA 1.7% · ROE 16.6% · GNPA n/a · 72% evidence Valuation 9.4/20 · P/BV 4.19× · P/BV÷ROE 0.25 · 90% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -6.7% · 1 year -20.7% · 25% evidence · 2 of 12 weeks ahead Exact sum: 8.7 + 20 + 9.4 + 7.5 = 45.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [New India Assurance Company Ltd](https://www.sectoralpha.in/stocks/new-india-assurance-company-ltd) NIACL · basing · Evidence leans down · 75% evidence 36.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.9/35 · Income 5.7% · Profit -80% · 52% evidence Capital efficiency 5.0/25 · ROA -0.6% · ROE 4.9% · GNPA n/a · 68% evidence Valuation 8.0/20 · P/BV 0.93× · P/BV÷ROE 0.19 · 100% evidence Relative strength 12.1/20 · Lead over its industry 0.6% · Lead over NIFTY 500 1.3% · 1 year -15% · 100% evidence · 5 of 12 weeks ahead Exact sum: 10.9 + 5 + 8 + 12.1 = 36 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Finance - Non Life Insurance](https://www.sectoralpha.in/sectors/finance-non-life-insurance), all 4 compared on one page. ## Which companies are close to GIC Re in size? GIC Re is the 2nd largest of 4 Finance - Non Life Insurance companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: ICICI Lombard General Insurance Company. Just below it: Star Health & Allied Insurance Company and New India Assurance Company. ### Finance - Non Life Insurance companies close in size

1. [ICICI Lombard General Insurance Company Ltd](https://www.sectoralpha.in/stocks/icici-lombard-general-insurance-company-ltd) ₹78,998 crore
2. General Insurance Corporation of India ₹54,536 crore
3. [Star Health & Allied Insurance Company Ltd](https://www.sectoralpha.in/stocks/star-health-allied-insurance-company-ltd) ₹31,221 crore
4. [New India Assurance Company Ltd](https://www.sectoralpha.in/stocks/new-india-assurance-company-ltd) ₹26,193 crore

[All 4 Finance - Non Life Insurance companies, largest first](https://www.sectoralpha.in/sectors/finance-non-life-insurance#all-companies)

### Companies close in size in other industries

1. [Indian Overseas Bank](https://www.sectoralpha.in/stocks/indian-overseas-bank) ₹55,343 crore · Banks - PSU
2. [Radico Khaitan Ltd](https://www.sectoralpha.in/stocks/radico-khaitan-ltd) ₹54,757 crore · Alcoholic Beverages
3. General Insurance Corporation of India ₹54,536 crore
4. [RBL Bank Ltd](https://www.sectoralpha.in/stocks/rbl-bank-ltd) ₹54,504 crore · Banks - Private
5. [Abbott India Ltd](https://www.sectoralpha.in/stocks/abbott-india-ltd) ₹54,474 crore · Pharma - MNC bulk Drugs

## What else do people ask about GIC Re? ### What is GIC Re's share price today? General Insurance Corporation of India's share price is ₹323.85, −14.6% over the past year. The whole company is worth ₹56,789 Cr on the market. In the last 52 weeks it traded between ₹311 to ₹400; today it is 15% of the way up from the low, 9.8% below its 200-day average (as of 4 November 2026). ### What were GIC Re's latest quarterly results? General Insurance Corporation of India reported total income of ₹14,985 Cr and net profit of ₹2,966 Cr for the Sep 2026 quarter. Income rose 17.5% and profit rose 3.2% compared with a year earlier. Earnings per share were ₹16.90 (as of 4 November 2026). ### What is GIC Re's market cap? General Insurance Corporation of India's market capitalisation is ₹56,789 Cr at a share price of ₹323.85. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is GIC Re performing? General Insurance Corporation of India's share price has been falling for 17 weeks. In its latest quarter, income rose 17.5% and profit rose 3.2% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 27 weeks running (as of 4 November 2026). ### Will GIC Re's share price go up? This page does not forecast General Insurance Corporation of India's share price. What it shows instead: the share price is ₹323.85, and it has been falling for 17 weeks. Its P/BV of 0.8× is higher than 18% of its own last 8 years (as of 4 November 2026). ### Who owns GIC Re? Promoters own 77.4% of General Insurance Corporation of India, foreign institutions 2.4%, domestic institutions 17.7% and the public 2.5% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 5.0 percentage points over 8 quarters (as of 4 November 2026). ### Where is GIC Re in its business cycle? General Insurance Corporation of India's FY26 net margin was 18.2%, against a 13-year range of −0.4% to 21.3%: the middle of its own range, neither a peak nor a low. The latest quarter was 19.8%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the GIC Re story? The main question: yearly earnings per share moved +30.0% while the share price moved −14.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is GIC Re a stock worth studying right now? What the numbers show: General Insurance Corporation of India's earnings have grown faster than its share price. Earnings per share grew +30.0% in a year while the price moved −14.6%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a GIC Re share price forecast for 2026? What management itself guided: Overall premium growth goal roughly 10%; foreign growth expected more pronounced than domestic, subject to mid-year cycle review. What is changing at GIC Re, from the latest results and calls: combined ratio improvement (1% annual goal), international book recovery via am best rating restoration and portfolio mix rebalancing (60/40 domestic/international long-term goal). What would change the story: Motor and Cargo combined ratios catastrophically high; Israel/Turkey Motor and China/Israel Cargo exposure not contained, October to December 2025 profit declined despite revenue growth. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

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