Reliance General Insurance Q1 net profit up 30% to Rs 570 million

Reliance General Insurance has posted a net profit growth of 30 per cent at Rs 570 million for the quarter ended 30 June against a net profit of Rs 438 million during the corresponding quarter of the previous fiscal year.

While premium revenues for the industry grew at 17 per cent during Q1 FY2019, Reliance General grew by 23 per cent during the same period.

The company’s Gross Written Premium grew to Rs 15.71 billion for Q1 FY2019 from Rs 12 billion in premium revenues in Q1 FY2018, a year-on-year increase of 23 per cent.

The investment book has increased by 20 per cent, year-on-year, from Rs 68.8 billion in Q1 FY2018 to Rs 82.6 billion at the end of Q1 FY2019.

The combined ratio, which is a measure of an insurance company’s profitability, remains stable at 104 per cent at Q1 FY2019 as compared to levels at the end of Q1 FY2018.