On a sequential basis, the retention ratio (net premium written/gross premium written) was high,
because Q1 is typically a period of commercial policy renewal where the reinsurance support is
relatively higher, whereas in Q2 there is a higher proportion of retail business coming in.
• GDPI (Gross Direct Premium Income) of the company stood at ₹5,185 crore in Q2 FY23, a growth of
17.2% as against an industry growth of 10%. This was primarily driven by growth in preferred
segments.
• In H1 FY23, GDPI was ₹10,555 crore, recording a rise of 22.6% as compared to industry growth of
15.3%.
• During the quarter, the reported net profit included a reversal of tax provision of ₹128 crore,
excluding which the reported net profit growth would be 3.4%.
• During the quarter, the company has exercised the call options to redeem the debentures of ₹220
crore in full along with the final interest due, post receipt of necessary approvals. Thus, the
outstanding debentures stood at ₹35 crore as of 30th September 2022.
because Q1 is typically a period of commercial policy renewal where the reinsurance support is
relatively higher, whereas in Q2 there is a higher proportion of retail business coming in.
• GDPI (Gross Direct Premium Income) of the company stood at ₹5,185 crore in Q2 FY23, a growth of
17.2% as against an industry growth of 10%. This was primarily driven by growth in preferred
segments.
• In H1 FY23, GDPI was ₹10,555 crore, recording a rise of 22.6% as compared to industry growth of
15.3%.
• During the quarter, the reported net profit included a reversal of tax provision of ₹128 crore,
excluding which the reported net profit growth would be 3.4%.
• During the quarter, the company has exercised the call options to redeem the debentures of ₹220
crore in full along with the final interest due, post receipt of necessary approvals. Thus, the
outstanding debentures stood at ₹35 crore as of 30th September 2022.