With effect from October 1, 2024 Long-term Products are accounted on a 1/n basis, as mandated by IRDAI, hence Q3 & 9M FY2025 are not comparable with prior years.

• Gross Direct Premium Income (GDPI) of the Company was at ₹ 206.23 billion in 9M FY2025 compared to ₹ 187.03 billion in 9M FY2024, a growth of 10.3%, which was higher than the industry growth of 7.8%. Excluding the impact of 1/n, GDPI of the Company grew by 11.9% for 9M FY2025.
• • GDPI of the Company was at ₹ 62.14 billion in Q3 FY2025 as against ₹ 62.30 billion in Q3 FY2024, a de-growth of 0.3%, as against the industry growth of 9.5%. Excluding the impact of 1/n, GDPI of the Company grew by 4.8% for Q3 FY2025.
• Combined ratio was at 102.9% for 9M FY2025 compared to 103.7% for 9M FY2024.
• Combined ratio was at 102.7% in Q3 FY2025 as against 103.6% in Q3 FY2024.
• Profit before tax (PBT) grew at 42.8% to ₹ 26.53 billion in 9M FY2025 as against ₹ 18.57 billion in 9M FY2024.
• PBT grew at 67.3% to ₹ 9.60 billion in Q3 FY2025 as against ₹ 5.74 billion in Q3 FY2024.
• Capital gains was at ₹ 7.96 billion in 9M FY2025 as against ₹ 3.95 billion in 9M FY2024. Capital gains was at ₹ 2.76 billion in Q3 FY2025 as against ₹ 1.08 billion in Q3 FY2024.
• Consequently, Profit after tax (PAT) grew at 42.9% to ₹ 19.99 billion in 9M FY2025 as against ₹ 13.99 billion in 9M FY2024.

• • PAT grew at 67.9% to ₹ 7.24 billion in Q3 FY2025 from ₹ 4.31 billion in Q3 FY2024.
• Return on Average Equity (ROAE) was at 20.8% in 9M FY2025 compared to 17.1% in 9M FY2024.
• ROAE was at 21.5% in Q3 FY2025 compared to 15.3% in Q3 FY2024.
• Solvency ratio was 2.36x as at December 31, 2024 as against 2.65x as at September 30, 2024 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.62x as at March 31, 2024.

Operating Performance Review:

Ratios: