Go Digit General Insurance's Q4 net profit up 2.2 times at ₹115.61 crore

Go Digit General Insurance’s net profit was up 2.2 times to ₹115.61 crore in the last quarter of FY25 (Q4FY25) from ₹52.66 crore in the year-ago period.

 

Gross written premium (GWP) of the general insurer increased 10 per cent Y-o-Y to ₹2,576.38 crore. The net premium income slipped by 3.13 per cent Y-o-Y to ₹2,033.78 crore. The investment income was up by 16.8 per cent Y-o-Y to ₹284.06 crore.

 

The expenses of the insurer rose by nearly 9.39 per cent Y-o-Y to ₹2,426.12 crore.

 

The Insurance Regulatory and Development Authority of India (Irdai) changed the format of reporting premium figures whereby non-life insurance companies were asked to report long-term premiums on the basis of 1/N, where N is the number of days of the policy. The norms were effective from October 1, 2024.

 

The measure of profitability for the general insurer – combined ratio of Go Digit General Insurance – stood at 111.3 per cent in Q4FY25 as against 108.8 per cent in Q4FY24. The claims ratio of the general insurer also increased to 76.5 per cent from 72.2 per cent in the same period last year.

 

The solvency ratio of the general insurer stood at 224 per cent as against the regulatory mandate of 150 per cent in the reported quarter. It was 161 per cent in Q4FY24.