General Insurance Corporation of India (GIC Re), the country’s largest reinsurer, reported a 6% year-on-year decline in net profit for the third quarter, with earnings slipping to Rs. 1,519 crore. The subdued performance reflects elevated claims, pressure on underwriting margins and fluctuating investment income amid uncertain global financial conditions. While the company maintained stability in its core reinsurance portfolio, higher loss ratios and cautious capital market sentiment tempered overall profitability.