Intimation for Annual Report is enclosed.

Ref. No.: GIC-HO/BOARD/SE-3-AGM/178/2026-27 Date: 31st August 2026 Corporate Service Department The Listing Department BSE Limited National Stock Exchange of India Ltd. 25th Floor, Phiroze Jeejeebhoy Tower Exchange Plaza, Plot no. C/1, G Block Dalal Street, Mumbai – 400001 Bandra Kurla Complex, Bandra (E) Mumbai - 400051 Scrip Code: (BSE – 540755; NSE – GICRE) Sub: SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 Regulation 34: Annual Report of the Corporation for Financial Year 2025-26 Dear Sir/Madam, Pursuant to Regulation 34(1) of the SEBI Listing Regulations, please find enclosed herewith copy of Annual Report of the Corporation for the Financial Year 2025-26 which inter-alia includes Notice of 54th Annual General Meeting of the Corporation scheduled to be held on Tuesday, 22nd September 2026 at 11:00 a.m. (IST) through Video Conference/ Other Audio Visual Means. The said Annual Report (including Business Responsibility & Sustainability Report) is being circulated to the Members of the Corporation through electronic mode on 31st August 2026. The Annual Report is also hosted on the website of the Corporation at www.gicre.in and on the website of the e-Voting Agency, National Securities and Depository Limited at www.evoting.nsdl.com . You are requested to take note of the above information on record. Thanking You Yours sincerely For General Insurance Corporation of India Satheesh Kumar Company Secretary & Compliance Officer Encl.: A/A Public Annual Report 2025-26 | 2 Annual Report 2025-26 | 3 VISION To be a leading global reinsurance and risk solution provider MISSION To achieve our vision by: • Building long-term mutually benefi cial relationship with business partners • Practicing fair business ethics and values • Applying “state-of-art” technology, processes including enterprise risk management and innovative solutions. • Developing and retaining highly motivated professional team of employees • Enhancing profi tability and fi nancial strength befi tting the global position CORE VALUES • Trust and mutual respect • Professional excellence • Integrity and transparency • Commitment • Responsive service Annual Report 2025-26 | 4 CONTENTS CORPORATE OVERVIEW Chairman’s Message 07 Corporate Information 11 Corporate Chronicle 13 Board of Directors 15 Management 16 REPORTS Board of Director’s Report 18 Corporate Governance Report 42 Corporate Social Responsibility Report 62 Management Discussion and Analysis Report 67 Management Report 84 Business Responsibility & Sustainability Assurance Report 86 Business Responsibility & Sustainability Report 90 STANDALONE FINANCIAL STATEMENTS Independent Auditors’ Report 131 Comments of the Comptroller & Auditor General of India and Management’s Reply 147 Revenue Account 151 Profit & Loss Account 156 Balance Sheet 158 Schedules forming part of Financial Statements 159 Significant Accounting Policies 186 Notes forming Part of Accounts 192 Cash Flow Statement 227 Summary of Financial Statements 229 Performance Ratio 231 Balance Sheet Abstract & Company’s General Business Profile 237 Performance Highlights 238 Annual Report 2025-26 | 5 CONTENTS CONSOLIDATED FINANCIAL STATEMENTS Independent Auditors’ Report 240 Comments of the Comptroller & Auditor General of India and Management’s Reply 254 Revenue Account 259 Profit & Loss Account 264 Balance Sheet 266 Schedules forming part of Financial Statements 267 Significant Accounting Policies 293 Notes forming Part of Accounts 300 Cash Flow Statement 333 ANNUAL REPORT OF SUBSIDIARIES GIC Re South Africa Ltd. 343 GIC Re, India, Corporate Member Limited 351 GIC Perestrakhovanie LLC 385 Notice of Annual General Meeting 426 Glossary 443 Annual Report 2025-26 | 6 CHAIRMAN’S MESSAGE Shri Hitesh Joshi Chairman-cum-Managing Director Dear Shareholders, disruption, cyber exposures, climate volatility and shifts in It gives me immense pleasure to present the Annual Report global capital markets continue to influence the operating of General Insurance Corporation of India (GIC Re) for the environment for insurers and reinsurers across the world. Financial Year 2025-26. In such an environment, the role of a reinsurer extends The year under review reinforced an important reality for the beyond providing capacity. It involves bringing stability, reinsurance industry: risks are becoming more interconnected, technical expertise and long-term confidence to the insurance more complex and harder to model and manage. Geopolitical ecosystem. As India’s national reinsurer, GIC Re has continued uncertainty, evolving trade relationships, technology-led to play this role with responsibility, commitment and resilience, Annual Report 2025-26 | 7 CHAIRMAN’S MESSAGE supporting the domestic insurance market while also that is available in the Indian market. maintaining its presence across international markets. Total assets increased to ₹1,97,220.93 crore, while net worth For GIC Re, FY 2025-26 was marked by continued focus on excluding fair value change account stood at ₹51,301.27 sharper risk assessment, prudent capital deployment and crore as on March 31, 2026. The combined ratio for the year improved portfolio management. Our objective was clear: to improved to 106.02%, down from 108.81% in the previous pursue sustainable growth while enhancing financial strength, year, demonstrating continued progress towards enhancing protecting stakeholders’ interests, ensuring institutional underwriting performance. credibility and promoting long-term resilience that GIC Re has These results reflect the sustained efforts of our management built over several decades. team and employees, whose dedication and commitment Financial Performance continue to drive GIC Re through evolving risk landscape. They I am pleased to share that GIC Re delivered a strong financial also reaffirm the fundamental strength of our franchise, the performance in FY 2025-26, marked by growth in premium resilience of our business model and our ability to create long- income, improved underwriting outcomes, higher profitability term value for all stakeholders. While financial performance is and a further strengthening of its solvency position. an important indicator of progress, our long-term competitive strength lies in how we respond to changes in the ever-evolving Your Company recorded a Gross Premium Income of risk environment and macro-economic landscape. ₹44,006.74 crore during the year as compared to ₹41,153.95 crore in FY 2024-25. The domestic business continued to remain During the year, we continued to focus on maintaining the cornerstone of our operations, contributing around 75% underwriting discipline across our portfolio. The emphasis of the total premium income, reaffirming GIC Re’s leadership remained on optimizing risk selection, reviewing portfolio position in the Indian reinsurance market. quality and ensuring that growth is pursued in lines and geographies where returns are aligned with risk. In a market The bedrock of this year’s excellent performance was a major where competitive pressures can often lead to dilution in turnaround in our core operations, highlighted by a 47.40% underwriting standards, we remain focused on protecting the reduction in underwriting losses to ₹1,763.00 crore down from quality of our risk book. ₹3,351.61 crore last year. Reflecting our relentless focus on underwriting discipline, prudent risk selection, and portfolio To navigate an increasingly complex risk landscape, we optimization, our incurred claims ratio improved significantly continued to advance our data analytics, decision-support to 85.40% from 88.44%. capabilities and risk management. In an era of escalating volatility, the capacity to evaluate exposures precisely and Our investment portfolio continued to provide stability and price them accurately is paramount. Accordingly, our targeted support to overall earnings. Investment income increased to investments made in catastrophe modelling, reserving ₹13,0 [Showing first 8,000 characters — download PDF for full document]