Mumbai: General Insurance Corporation of India (GIC Re) has reported a 9.7% year-on-year increase in quarterly profit after tax, helped by an improvement in claims and underwriting performance. For the June quarter, the company on Thursday said profit after tax increased to Rs 1,922 crore compared with Rs 1,752 crore a year earlier.

Gross premium income rose 8.8% to Rs 13,475 crore from Rs 12,388 crore in the year-ago quarter. The incurred claims ratio improved to 85.04% from 90.42%, while underwriting loss narrowed by 20.3% to Rs 724 crore from Rs 908 crore a year earlier.

GIC Re’s combined ratio, which measures claims and expenses against premiums, improved to 104.88% from 106.94%. A ratio above 100% indicates an underwriting loss.

Operator

Hello, everyone. Thank you for joining us, and welcome to CapsoVision’s Second Quarter 2026 Earnings Conference Call. [Operator Instructions]

I will now hand the conference over to Leigh Salvo, Investor Relations. Please go ahead.

Leigh Salvo

Thank you, operator. Good afternoon, everyone, and thank you for joining us for CapsoVision’s Second Quarter 2026 Earnings Call. Joining me today are Johnny Wang, President and Chief Executive Officer; and Senior Vice President of Finance, David Garcia; as well as Doug Atkinson, Senior Vice President of Sales.

Before we begin, please remember that today’s remarks include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in the most recent Form 10-Q filed by us with the SEC. These forward-looking statements speak only as of the date of this call, and we expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Our call today will cover the following agenda. Johnny will begin with an update on CapsoVision’s business, target markets and recent highlights from our pipeline development. Then Dave will walk through a commercial update and recent financial results. After our prepared remarks, we’ll open the call for Johnny, David and

Young people have said a lack of career opportunities are forcing them to think about leaving home.

In a survey by Dr Nicola Brink – Guernsey’s Medical Officer of Health and Director of Public Health – housing, cost of living and transport were big headaches for the future.

Only 27% of the young people Brink heard from said they were confident in staying on the island.

Amber Thomson told BBC Guernsey: “I think that a lot of people kind of tend to go to uni[versity] and then they think, well there’s not that much opportunity for me if I come back.”

The 21-year-old studied environmental science and said she planned to move away for more career opportunities and to “see what else is out there in the world”.

She said: “Guernsey is a really, really tiny place and when you start to look at the world as a whole you realise just how small it is and how little you have seen in life.”

She valued the safety of island life but added: “I think that there’s a real gap between the young people of Guernsey and then the older generations.

“I think that it’s a real shame that we don’t have any sense of community between the two groups at all” and said it would be good to bridge that gap.

Mortgage rates fell for the first time in six weeks, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 6.67% from last week’s reading of 6.69%. 

The average rate on a 30-year loan was 6.58% a year ago.

SLOWING LABOR MARKET CREATES NEW HURDLE FOR FIRST-TIME HOMEBUYERS FACING AFFORDABILITY SQUEEZE

“Housing affordability has improved from a year ago, and recent increases in purchase and refinance applications suggest that borrowers continue to respond to even modest changes in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist.

A TALE OF TWO HOUSING MARKETS: LUXURY DEMAND SURGES AS AFFORDABILITY SQUEEZES STARTER-HOME BUYERS

The average rate on a 15-year fixed mortgage fell to 5.96% from last week’s reading of 6.01%.

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.64% as of Thursday afternoon.

THESE AMERICAN CITIES ARE TRENDING TOWARD A BUYER’S MARKET

“The 10-year Treasury yield increased only slightly this week as the conflict in Iran has drawn on, putting pressure on oil prices and thereby expectations of future inflation,” said Realtor.com senior economist Joel Berner. “Yesterday’s CPI print came in right in line with expectations, having little impact on the markets. While it’s certainly good news that inflation did not surprise us by coming in hotter than expected, a cooler readout could have given the Federal Reserve more pause on what looks like an upcoming rate hike before the end of 2026 after holding rates late last month.”

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The current conflict in the Middle East has also affected borrowing rates.

“All told, there is little downward pressure on mortgage rates between a Middle East conflict that’s keeping inflation high and a Federal Reserve that’s laser-focused on driving that inflation lower,” Berner said. “Current mortgage rate levels may become quite familiar in the months ahead.”

Company Participants

Charles Beck – Executive VP, CFO, Secretary & Treasurer
Paul Carreiro – CEO, President & Director

Conference Call Participants

Joshua Reilly – Needham & Company, LLC, Research Division
Vijay Homan – Craig-Hallum Capital Group LLC, Research Division
Jeffrey Milton Bernstein – Silverberg Bernstein Capital Management LLC

Presentation

The Magnum Ice Cream Company is voluntarily recalling all lots of certain Reese’s and Almond Joy ice cream bars after an internal review found inaccurate nutritional information on the products’ cartons.

The Class III recall covers Reese’s Crunchy Peanut Ice Cream Bars and Almond Joy Ice Cream Bars and extends to the retail store level, according to a recall notice posted by SpartanNash.

The Food and Drug Administration defines a Class III recall as a situation in which use of or exposure to a product “is not likely to cause adverse health consequences.”

WHOLE FOODS RECALLS SALSA, GUACAMOLE AND PREPARED FOODS IN 12 STATES OVER SALMONELLA CONCERNS

The company said certain nutritional information was inaccurately declared on the nutrition panel. However, the ingredients and allergen information listed on the packaging are correct, according to the recall notice.

The Reese’s Crunchy Peanut Ice Cream Bars can be identified by UPC 8-40473-40024-5 and are sold in six-count packages. The Almond Joy Ice Cream Bars carry UPC 8-40473-40029-0.

All lot codes of the affected products are included in the recall.

TOYOTA RECALLS 655K CAMRYS GLOBALLY OVER DISPLAY DEFECT THAT CAN KNOCK OUT SAFETY INDICATORS

The recall notice did not specify which nutritional information was inaccurate. Consumers who rely on the nutrition panel to monitor their dietary intake should therefore be aware that some of the information printed on the affected cartons may not be accurate.

FOX Business reached out to The Magnum Ice Cream Company for additional information about which nutritional values were incorrectly listed, how many products are affected, where they were distributed and whether the company has received any consumer complaints or reports of adverse health effects.

FOX Business also contacted the FDA for additional information about the Class III recall and any reported adverse health consequences, as well as SpartanNash for details about the affected products’ retail distribution. Responses were not immediately received.

Ticker	Security	Last	Change	Change %
HSY	THE HERSHEY CO.	186.12	+1.89	+1.03%

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SpartanNash instructed customers who may have purchased the recalled ice cream bars not to consume them and instead return the products to the store for a refund or replacement.

Consumers with questions or concerns about the recall can contact The Magnum Ice Cream Company at 1-800-634-7532. SpartanNash customers can contact the retailer’s customer service center at 1-800-451-8500.