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General Insurance Corporation of India
(GICRE)
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Rating:72Outperform
Price Target:
₹375.00
▼(-2.22% Downside)
Action:Reiterated
Date:09/17/26
The score is driven primarily by solid financial strength (notably a debt-free, well-capitalized balance sheet and improved earnings), supported by attractive valuation (low P/E and healthy dividend). These positives are tempered by weak technical momentum and a key fundamental risk: FY2026 cash flows lagging earnings, raising near-term cash-conversion and earnings-quality uncertainty.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet gives GIC Re substantial financial flexibility to absorb insurance volatility, support underwriting capacity, and invest through market cycles. Rising equity further strengthens its capital base, improving resilience and the ability to sustain operations without relying on external borrowing.
Negative Factors
Weak recent cash conversion
The pronounced gap between FY2026 earnings and cash generation raises concern about the timing and quality of reported profits. Although stronger cash flow occurred in earlier years, sustained weak conversion could constrain internally funded growth and make earnings less dependable for capital planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet gives GIC Re substantial financial flexibility to absorb insurance volatility, support underwriting capacity, and invest through market cycles. Rising equity further strengthens its capital base, improving resilience and the ability to sustain operations without relying on external borrowing.
Read all positive factors
General Insurance Corporation of India (GICRE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹561.93B
Dividend Yield4%
Average Volume (3M)59.25K
Price to Earnings (P/E)6.5
Beta (1Y)0.82
Revenue Growth-0.88%
EPS Growth3.66%
CountryIN
Employees418
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)50.60
Shares Outstanding1,754,400,000
10 Day Avg. Volume34,523
30 Day Avg. Volume59,247
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)1.07
Price to Sales (P/S)1.19
P/FCF Ratio140.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)51.93
Revenue Forecast (FY)₹481.15B
General Insurance Corporation of India Business Overview & Revenue Model
Company Description
General Insurance Corporation of India (GIC Re) functions as a prominent reinsurer, offering its services both domestically within India and across international territories. Its comprehensive suite of reinsurance products spans numerous sectors, ...
How the Company Makes Money
GIC Re primarily makes money by underwriting reinsurance—i.e., assuming a portion of risk from primary insurance companies (cedants) in exchange for premiums. Its main revenue streams include: (1) Reinsurance premiums earned: cedants pay GIC Re pr...
General Insurance Corporation of India Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 523.73B | 534.70B | 507.02B | 465.50B | 483.42B | 514.87B |
| Gross Profit | 307.14B | 201.52B | 424.68B | 395.67B | 420.41B | 425.59B |
| EBITDA | 112.52B | 121.09B | 91.90B | 80.21B | 81.22B | 38.31B |
| Net Income | 88.75B | 96.62B | 74.32B | 66.86B | 69.07B | 23.86B |
Balance Sheet | ||||||
| Total Assets | 2.18T | 2.06T | 1.95T | 1.84T | 1.63T | 1.52T |
| Cash, Cash Equivalents and Short-Term Investments | 296.09B | 284.89B | 252.80B | 248.55B | 245.75B | 219.51B |
| Total Debt | 8.20M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.19T | 1.46T | 1.46T | 1.29T | 1.18T | 1.16T |
| Stockholders Equity | 987.50B | 592.96B | 486.59B | 419.35B | 451.85B | 360.08B |
Cash Flow | ||||||
| Free Cash Flow | -2.16B | 4.53B | 19.51B | 111.39B | 115.88B | 90.35B |
| Operating Cash Flow | -2.06B | 4.66B | 19.76B | 111.44B | 117.22B | 90.51B |
| Investing Cash Flow | -20.41B | -20.75B | -9.26B | -88.72B | -99.99B | -66.79B |
| Financing Cash Flow | -17.54B | -17.54B | -17.54B | -12.63B | -3.95B | -1.00K |
General Insurance Corporation of India Technical Analysis
Negative
383.50
Price Trends
343.01
Negative
351.73
Negative
358.28
Negative
Market Momentum
-3.45
Positive
33.17
Neutral
8.43
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GICRE, the sentiment is Negative. The current price of 383.5 is above the 20-day moving average (MA) of 342.55, above the 50-day MA of 343.01, and above the 200-day MA of 358.28, indicating a bearish trend. The MACD of -3.45 indicates Positive momentum. The RSI at 33.17 is Neutral, neither overbought nor oversold. The STOCH value of 8.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GICRE.
General Insurance Corporation of India Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹561.93B | 6.54 | ― | 4.00% | -0.88% | 3.66% | |
69 Neutral | ₹756.52B | 32.59 | ― | 0.85% | 11.82% | -9.68% | |
69 Neutral | ₹316.68B | 37.28 | ― | ― | 20.55% | 42.94% | |
57 Neutral | ₹648.55B | 37.90 | ― | 0.37% | -8.37% | 35.27% | |
57 Neutral | ₹501.67B | 65.55 | ― | ― | 38.00% | 96.70% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹479.36B | 429.19 | ― | 0.63% | 4.89% | -59.23% |
* General Sector Average
IN:GICRE
General Insurance Corporation of India
331.85
-20.77
-5.89%
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General Insurance Corporation of India Corporate Events
GIC Re Corrects Date and Time for 54th Annual General Meeting
Aug 31, 2026
General Insurance Corporation of India has issued a clarification to shareholders regarding its 54th Annual General Meeting, after an earlier public notice carried an incorrect date and time. The company confirmed that the AGM will now be held on ...
GIC Re Sets September 22 AGM, Announces New CMD and Government Nominee Director
Aug 31, 2026
General Insurance Corporation of India has convened its 54th Annual General Meeting for 22 September 2026, to be conducted via video conferencing and other audio-visual means, with the notice and annual report for FY 2025-26 made available electro...
GIC Re Corrects Key Metrics in Q1 FY 2027 Investor Presentation
Aug 19, 2026
General Insurance Corporation of India has issued a corrigendum to its Q1 FY 2027 investor presentation after identifying typographical errors in key financial metrics. The corrections relate to incurred claim ratios for FY 2025-26 and Q1 FY 2026-...
GIC Re Sets Rs 13.25 Dividend, Details TDS Rules for Shareholders
Aug 15, 2026
General Insurance Corporation of India has announced that its board recommended a final dividend of Rs. 13.25 per equity share of Rs. 5 for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming 54th Annual Genera...
GIC Re Files Q1 FY27 Investor Presentation With Stock Exchanges
Aug 14, 2026
General Insurance Corporation of India has released its investor presentation for the first quarter of FY 2027 financial results, notifying both BSE and NSE in compliance with SEBI’s listing and disclosure regulations. The Q1 FY 2027 financi...
GIC Re Q1 FY27 Profit Rises as Underwriting Loss Narrows and Solvency Strengthens
Aug 13, 2026
GIC Re, India’s national reinsurer, reported higher gross premium income and stronger profitability for the quarter ended 30 June 2026, alongside an improvement in key underwriting and solvency metrics. The corporation’s total assets a...
GIC of India urges shareholders to claim 2018-19 dividends before IEPF transfer
Jun 29, 2026
General Insurance Corporation of India has notified stock exchanges and its shareholders that dividends declared for the financial year 2018-19, which remain unpaid or unclaimed for seven years, are due to be transferred to the Investor Education ...
GIC Re Inducts Senior Finance Ministry Official Dr. Debasish Prusty to Board
Jun 19, 2026
General Insurance Corporation of India has announced a change in its board composition following a communication from the Ministry of Finance. The Central Government has nominated Dr. Debasish Prusty, Additional Secretary in the Department of Fina...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.