Go Digit General Insurance Limited – Investor Presentation Summary

Key Operational Highlights

  • Gross Direct Premium: ₹2,447 crore in Q1 FY27, compared to ₹2,507 crore in Q1 FY26, recording a de-growth of 2.4%
  • Gross Written Premium: ₹2,731 crore in Q1 FY27, compared to ₹2,982 crore in Q1 FY26, recording a de-growth of 8.4%
  • Net Earned Premium: ₹2,007 crore in Q1 FY27, compared to ₹1,865 crore in Q1 FY26, recording a growth of 7.6%
  • Net Retention Ratio: 76.7% in Q1 FY27, compared to 65.4% in Q1 FY26
  • Assets Under Management: ₹23,377 crore as of June 30, 2026, compared to ₹20,468 crore as of June 30, 2025, increased by ₹2,909 crore, growth of 14.2%
  • Solvency Ratio: 2.43x as of June 30, 2026, compared to 2.27x as of June 30, 2025, and 2.42x as of March 31, 2026, above the minimum regulatory requirement of 1.50x

Key drivers of operational performance: Profitability discipline over growth in a soft market, with focus on net retention ratio improvement.

Segment-wise Performance

  • Motor OD: GWP Mix of 19.2% in Q1 FY27, with GWP growth of -3.0% compared to industry growth of 16.4%
  • Motor TP: GWP Mix of 34.8% in Q1 FY27, with GWP growth of 2.4% compared to industry growth of 12.2%
  • Motor Total: GWP Mix of 54.0% in Q1 FY27, with GWP growth of 0.4% compared to industry growth of 13.9%
  • Health, Travel & PA: GWP Mix of 23.3% in Q1 FY27, with GWP growth of 0.5% compared to industry growth of 22.4%
  • Fire: GWP Mix of 13.6% in Q1 FY27, with GWP growth of -37.0% compared to industry growth of -27.8%
  • Others: GWP Mix of 9.2% in Q1 FY27, with GWP growth of -14.5% compared to industry growth of 6.4%

Explanation of significant changes in segment performance: Motor TP growth was positive but below industry, while Fire segment saw significant de-growth aligned with industry trends.

Financial Highlights

  • Insurance Revenue (Gross Earned Premium): ₹2,653 crore in Q1 FY27 (unaudited), compared to ₹2,471 crore in Q1 FY26
  • Profit Before Tax (Only with DAC): ₹254 crore in Q1 FY27, compared to ₹268 crore in Q1 FY26
  • Profit After Tax (Only with DAC): ₹190 crore in Q1 FY27, compared to ₹200 crore in Q1 FY26
  • Net Worth (IGAAP): ₹4,674 crore as of Q1 FY27, compared to ₹4,173 crore in Q1 FY26
  • Net Worth (Ind AS): ₹8,183 crore as of Q1 FY27, compared to ₹7,449 crore in Q1 FY26
  • Return on Average Equity: 4.1% (not annualized) in Q1 FY27, compared to 4.9% in Q1 FY26
  • Loss Ratio: 73.3% in Q1 FY27, compared to 70.3% in Q1 FY26
  • Combined Ratio on NEP with DAC: 107.2% in Q1 FY27, compared to 104.6% in Q1 FY26
  • Combined Ratio: 104.3% in Q1 FY27, compared to 102.2% in Q1 FY26
  • Claims Ratio: 66.3% in Q1 FY27, compared to 66.8% in Q1 FY26
  • Expense Ratio: 34.5% in Q1 FY27, compared to 31.2% in Q1 FY26
  • Combined Operating Ratio (CoR): 100.8% in Q1 FY27, compared to 98.0% in Q1 FY26

YoY/QoQ comparison: Profit after tax (only with DAC) decreased by 5.0% year-over-year, while net earned premium increased by 7.6%.

Drivers of financial performance: Higher net earned premium growth offset by increased loss ratio and expense ratio, leading to lower profitability.

Key Risks: Disclosed risks include regulatory changes, competition, economic conditions, and natural calamities, as per forward-looking statements.

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

  • Net Worth (IGAAP): ₹4,674 crore as of Q1 FY27
  • Net Worth (Ind AS): ₹8,183 crore as of Q1 FY27
  • Solvency Ratio: 2.43x as of June 30, 2026

Financial Health Insights: Strong solvency position above regulatory requirements, with growing net worth.

Capex & Cash Flow Health

Not Specified

Strategic & R&D Initiatives

  • Business strengths include high-quality customer experience, focus on empowering distribution partners, predictive underwriting models, advanced technology platform, and a skilled management team.

Investments in Innovation: Not specified in detail, but technology and underwriting models are highlighted.

Expected impact on growth: Not quantified.

Strategic Rationale: Aim to make insurance simple through innovation and transparency.

Industry Trends & Business Environment

  • Industry growth rates: Motor Total industry growth was 13.9% in Q1 2027, Health, Travel & PA industry growth was 22.4%, Fire industry growth was -27.8%, and Others industry growth was 6.4%.

Impact on Company: Company's GWP growth varied by segment compared to industry, with some segments underperforming industry averages.

Management Commentary & Growth Outlook

  • Strategic Outlook: Emphasized "Profitability Discipline Over Growth in a Soft Market" and value statements like "Question the status quo" and "Be Transparent".

FY Guidance: Not explicitly provided.

Market Share Targets: Not specified.

Risks and Opportunities: General risks mentioned in disclaimer, but no specific opportunities detailed.

Additional Information

  • Long term advance premium: ₹3,387 crore as of June 30, 2026
  • Deferred Acquisition Cost (pre-tax): ₹2,609 crore as of June 30, 2026
  • Investment Asset Allocation: Equity 8.6%, REITs & InvITs 0.9%, Reverse Repo 0.9%, AT1 Bonds 10.3%, AA- & equivalent 0.4%, AA+ 5.5%, AAA & equivalent 36.5%, Sovereign 37.0% as of Q1 FY27
  • Unrealized gain on equity portfolio: ₹268 crore (including AIF plus AT1 bonds = ₹67 crore)
  • Unrealized gain on other than equity portfolio: ₹220 crore
  • Loss Ratios by Segment: Motor OD 75.9%, Motor TP 66.6%, Health, Travel, PA 87.2%, Fire 83.0%, Marine 61.8%, Engineering 82.4%, Other 52.2% in Q1 FY27
  • Reserving Triangles: Disclosed for whole account, Motor TP, and whole account excluding Motor TP, showing favorable development in earlier years.