Go Digit General Insurance (GODIGIT) Q2 24/25 earnings summary

Executive summary

• Achieved INR 5,000 crore in premium for H1, reflecting 18% growth year-over-year; Q2 premium growth was 14% to ₹2,369 crore, outpacing industry growth.

• Profit after tax for Q2 FY25 surged 221% year-over-year to ₹89 crore, with profit tripling year-over-year.

• AUM surpassed INR 18,500 crore, increasing 17.4% since March 2024.

• Unaudited financial results for the quarter and half year ended September 30, 2024, were reviewed and approved by the Board on October 24, 2024.

• Customer satisfaction remains high, with 2.38 million claims settled since inception.

Financial highlights

• GWP for H1 FY25 was ₹5,029 crore, up from ₹4,252 crore in H1 FY24.

• Combined ratio for Q2 FY25 increased to 112.2% from 108.9% in Q2 FY24.

• ROE for H1 at 6% (not normalized); return on average equity (IGAAP) for H1 FY25 stood at 6.0%.

• Solvency ratio improved to 2.18%, well above the 1.5% regulatory minimum.

• Net premium written for Q2 FY25: ₹192,785 lakhs, up from ₹182,161 lakhs in Q2 FY24.

Outlook and guidance

• Confident in achieving the three-year EOM glide path; expense ratios expected to remain on track.

• Management highlights ongoing investment in technology and innovation to drive future growth and efficiency.

• Expect continued strong growth in non-employer-employee attachment products and improvement in TP market share.

• No formal guidance on reserve releases, but trend expected to continue barring unforeseen claims.

• Quarterly results are not indicative of full-year performance due to industry seasonality.