- Gross Direct Premium Income (GDPI) of the Company stood at ₹ 76.88 billion in Q1 FY2025 compared to ₹ 63.87 billion in Q1 FY2024, a growth of 20.4%, which was higher than the industry growth of 13.3%. Excluding crop and mass health, GDPI growth of the Company was at 19.7%, which was higher than the industry growth of 14.8% in Q1 FY2025.
- Combined ratio stood at 102.3% for Q1 FY2025 compared to 103.8% for Q1 FY2024.
- Profit before tax (PBT) grew by 48.8% to ₹ 7.74 billion in Q1 FY2025 as against ₹ 5.20 billion in Q1 FY2024.
o Capital gains were at ₹ 2.84 billion in Q1 FY2025 as against ₹ 1.23 billion in Q1 FY2024.
- Consequently, Profit after tax (PAT) grew by 48.7% to ₹ 5.80 billion in Q1 FY2025 as against ₹ 3.90 billion in Q1 FY2024.
- Return on Average Equity (ROAE) was 19.1% in Q1 FY2025 compared to 14.7% in Q1 FY2024.
- Solvency ratio was 2.56x as at June 30, 2024 as against 2.62x as at March 31, 2024 which was higher than the minimum regulatory requirement of 1.50x.
Operating Performance Review :
| Financial Indicators | Q1 FY2024 | Q1 FY2025 | Growth % | FY2024 |
| GDPI | 63.87 | 76.88 | 20.4% | 247.76 |
| PBT | 5.20 | 7.74 | 48.8% | 25.55 |
| PAT | 3.90 | 5.80 | 48.7% | 19.19 |
Ratios :
| Financial Indicators | Q1 FY2024 | Q1 FY2025 | FY2024 |
| ROAE (%) – Annualised | 14.7% | 19.1% | 17.2% |
| Combined ratio (%)* | 103.8% | 102.3% | 103.3% |
CoR revised for Q12024 & FY2024 basis IRDAI master circular dated May 17, 2024.
Notes:
Combined Ratio = (Net Incurred Claims/ Net Earned Premium) + (Management Expenses – Commission on Reinsurance)/ Net Written Premium
Management Expenses = Commission Paid Direct + Commission Paid on Reinsurance inward + Operating expenses related to insurance business
Return on Average Equity (ROAE) = Profit After Tax / ((Opening Net Worth + Closing Net Worth)/2)
Net Worth = Share Capital + Reserves & Surplus
