Go Digit posts 3x jump in Q2 net profit; gross premium collected at Rs 2,368 crore
Go Digit General Insurance posted a net profit of Rs 89.4 crore for the July-September quarter, up 222% from Rs 27.7 crore a year earlier.
The new-age general insurance company reported a gross written premium of Rs 2,368.5 crore in the September quarter, up 14% from Rs 2,073.8 crore a year back.
In a filing with the stock exchanges, the Fairfax-backed insurance company said it has reappointed its founder Kamesh Goyal as the non-executive chairman for a period of five years from October 24, 2024, subject to insurance regulator IRDAI’s approval.
The company paid around Rs 572 crore worth of commissions and brokerage to its distribution partners in the September quarter and reported a total income of Rs 2,175 crore.
An insurance company collects premium from its customers but also pays premium to reinsurance companies. It also gets additional income from the interest earned from its investments.
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