GIC moves to underwriting profit

India's national reinsurer GIC Re has recorded an underwriting
profit for the financial year 2016/17, following a 7.7 percentage
point improvement in the combined ratio to 99.7 percent.
The company also recorded a 22 percent year-on-year increase in
its pre-tax profits over the period to 3,624 crore rupees
($560.6mn).
The carrier also recorded an 82.2 percent increase in premium
income to 33,585 crore rupees.
Total investments increased by 14.9 percent to 39,126 crore
rupees, while income for th