GIC Re reported improved Q1 FY27 results: gross premium at INR 13,475 Cr, PAT at INR 1,922 Cr.

Combined ratio improved to 104.88%, with solvency rising to 4.32. Management highlighted better underwriting from portfolio actions.

Strategic focus is on profitable foreign markets (post-rating upgrade) and retail health domestically, aiming for domestic combined ratio of 103% and foreign of 95% in 2-3 years.

Competition is aggressive, with an IRDAI advisory potentially bringing market discipline.

GIC prioritizes profitability over aggressive growth for long-term shareholder value.