Stockrabit · Analysts
Questions across 2 calls

MW Kim

JPMorgan

General Insurance Corporation of India

General Insurance Corporation of India CC-Nov25.pdf · 2025-11-17
This is MW Kim from JPMorgan. I would like to ask about the compan y's capital deployment plan for next 12 or the 24 months. As suggested in the first half of '26, underwriting performance for major non -life insurers, the domestic underwriting is approaching to the peak of deterioration, signaling potential for the premium highs in the motor and the health lines. The overseas market is showing some softening, but the risk reward profile remains attractive with a much lower combined ratio outlook compared to the domestic market. So my question is, what do you see as the op timal underwriting mix between domestic and overseas business? So that's my first question. And my next question concerns the risk management. Recently, the company got another the year of the A - rating from the AM Best indicate relatively strong capital base and good risk management practices. So compared to the last 2, 3 years, has the company made an improvement in its risk management approach? If this is the case, can you share a little bit more detail? And finally, one more question is about what are the company's expectation for January 2026 linear season and the outlook for the global reinsurance pricing cycle?
Yes. Thank you so much for the detailed explanation. Answers are very helpful. Yes.

SBI Life Insurance Company Limited

SBI Life Insurance Company Limited CC-Oct25.pdf · 2025-10-24
Sir, I note that overall, the protection business is expanding rapidly. However, on the review of the EV movement, it appears that the current EV unwind is substantial relative to the new business addition. So, I have two questions. The firstly, is the company targeting higher growth in the protection sales over the coming period? If so, what is the management expectation for the mix of the protection business contribution over next 12 to 24 months? Secondly, given this focus, should we expect potentially the milder near -term earnings growth potential as a greater portion of the profit may be deferred and recognized over the longer period if the protection book starts growing larger? So that is my question. Thank you.
The second question is about the profit recognition is that we have the bigger portion of the protection book. And then once this is accumulated in the reserve, how this could translate into the EV unwind and then overall the earnings in general?