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India's state-owned national reinsurer, providing reinsurance capacity to Indian and some international primary insurers.
India's state-owned national reinsurer, providing reinsurance capacity to Indian and some international primary insurers.
Earns premiums from Indian insurers who pass on part of the risk they write, and pays its share of their claims; it also invests the premiums, so investment income matters. The Government of India is the controlling shareholder. Rules that once required insurers to cede a share of business to it have been reduced, so it now competes with foreign reinsurers on closer terms.
In one line: India's state-backed Swiss Re/Munich Re, at smaller scale.
Moat: narrow (regulatory licence, scale). Historical statutory cession requirement gave GIC Re first-right on Indian domestic reinsurance business.
Headquarters: Mumbai, India · Founded: 1972 · Employees: 465
Size General Insurance Corporation of India (GICRE.NS) is an India Financials company (Specialty Insurance) with a market value of $6.37B, the 178th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹342.30 on 6 Nov 2026.
Performance Over six months the shares fell 14.3%, against -4.6% for the median peer and 0.0% for the India market (cap-weighted) — lowest of 9 in its peer set.
Growth Revenue fell 0.7% over the last twelve months (peer median +11.9%); the operating margin is 13.4% (peer median 15.1%).
Valuation It trades at 0.60× book value against a peer median of 1.19× (2nd cheapest of 9).
Price implies The share price implies a return on equity of about 8.9%; General Insurance Corporation of India delivers 9.1%, so the price asks less than the business earns today.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹517B | ₹531B | ₹496B | ₹454B | ₹467B |
| Revenue growth | — | +7% | +9% | -3% | — |
| Net income | ₹89.7B | ₹96.6B | ₹74.3B | ₹66.9B | ₹69.1B |
| Free cash flow | n/a | ₹4.53B | ₹19.5B | -₹2.17B | ₹116B |
| Capital expenditure | n/a | ₹138M | ₹254M | ₹56.8M | ₹1.34B |
| Total debt | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| General Insurance Corporation of India GICRE.NS | $6.37B | -14% | -1% | 9% | 0.60× | 8.9% |
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% |
| Swiss Re SREN.SW | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% |
| Scor SCR.PA | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% |
| Reinsurance Group of America RGA | $17.1B | +24% | +20% | 12% | 1.25× | 8.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GICRE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.1% | +3.8% | 2nd highest of 9 |
| 6-month return | -14.3% | -4.6% | lowest of 9 |
| Return on equity | 9.1% | 12.0% | 2nd lowest of 9 |
| Price / book | 0.60× | 1.19× | 2nd cheapest of 9 |
| Trailing P/E | 6.7× | 9.6× | cheapest of 9 |
| ROE the price implies | 8.9% | 9.6% | 5th least demanding of 9 |
| ROE delivered | 9.1% | 12.0% | 2nd lowest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| General Insurance Corporation of India GICRE.NS | India | $6.37B | -14% | -1% | 9% | 0.60× | 8.9% | 9.1% |
| First American Financial FAF | United States | $6.84B | -6% | +14% | 14% | 1.27× | 13.2% | 13.7% |
| Essent ESNT | United States | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% | 12.0% |
| Radian RDN | United States | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% | 12.0% |
| ICICI Lombard General Insurance ICICIGI.NS | India | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% | 14.7% |
| Old Republic International ORI | United States | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% | 17.9% |
| Fidelity National Financial, Inc. - FNF FNF | United States | $11.8B | -13% | +13% | 10% | 1.58× | 13.4% | 10.1% |
| Assured Guaranty AGO | United States | $3.23B | -2% | +3% | 6% | 0.58× | 6.0% | 6.3% |
| Coface COFA.PA | France | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% | 9.4% |