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New India Assurance Company Results: Latest Quarterly Results & Analysis

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The New India Assurance Company Ltd. 30 Jul 2025 12:32 PM
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Q1FY26 Quarterly Result Announced for The New India Assurance Company Ltd.

General Insurance company The New India Assurance Company announced Q1FY26 results

  • Gross Written Premium rose by 13.1% YoY to Rs 13,334 crore (vs Rs 11,788 crore)
  • Net Written Premium increased by 13.2% YoY to Rs 10,840 crore (vs Rs 9,577 crore)
  • Net Earned Premium up by 10.1% YoY to Rs 9,369 crore (vs Rs 8,503 crore)
  • Operating Expenses declined by 23.6% YoY to Rs 852 crore (vs Rs 1,116 crore)
  • Net Incurred Claims grew by 14.6% YoY to Rs 9,347 crore (vs Rs 8,161 crore)
  • Other Expenses (net) stood at Rs -145 crore (vs Rs -9 crore)
  • Profit Before Tax (PBT) grew 52% YoY to Rs 389 crore (vs Rs 256 crore)
  • Profit After Tax (PAT) jumped 80% YoY to Rs 391 crore (vs Rs 217 crore)
  • Balance sheet remains robust with assets under management of Rs 1,00,802 crore and net worth of Rs 45,414 crore.

Girija Subramanian, Chairman and Managing Director of The New India Assurance Company, commenting on the results said, "It gives me great pleasure to inform you that NIACL has achieved a gross written premium of Rs 13,334 crore, reflecting a YoY growth of 13.11% in Q1FY26. The domestic gross direct premium during the period grew by 15.27% vis-à-vis the industry which grew by 8.84%. Consequently, our market share for the period increased from 14.65% to 15.51%. The healthy growth rate in domestic business was despite a lower growth in Motor LOB where we have taken a more cautious approach considering the current competitive intensity. The combined ratio at 116.16% was stable compared to the same period last year. Fire, Engineering and Health portfolios registered a healthy growth".

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General Insurance company The New India Assurance Company announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Gross Written Premium (GWP): Rs 11,432 crore in Q4FY25 compared to Rs 10,777 crore in Q4FY24
  • Net Profit stood at Rs 346 crore in Q4FY24 compared to Rs 353 crore in Q4FY24

FY25 Financial Highlights:

  • Gross Written Premium (GWP): Rs 43,618 crore in FY25, reflecting a 3.86 % increase over 241,996 crore in FY24.
  • Combined Ratio: 117% in FY25, improving from 120% in FY24.
  • Loss Ratio: 96.61% in FY25, compared to 97.36% in FY24.
  • Solvency Ratio: 1.91x as of March 31, 2025, compared to 1.81x as of March 31, 2024.
  • Net Profit: Rs 988 crore in FY25, compared to Rs 1,129 crore in FY24 saw a decline of 12.86% due to provisions made towards legacy non-moving balances.

Girija Subramanian, Chairman and Managing Director of The New India Assurance Company commenting on the results said, "It gives me great pleasure to inform you that NIACL has achieved an all-time high Gross Written Premium (GWP) of Rs 43,618 crore in FY25, reflecting a growth of 3.86% despite challenging market conditions. Even more encouraging is that our continued emphasis on profitable growth over the past several quarters is now yielding results. Despite the rise in GWP, the company has managed to reduce its underwriting losses by 11% driven by lower claim ratio and signccrnt reduction in operating costs. The combined ratio has improved from 119.88% in FY24 to 116.78% in FY25. This improvement could have been even greater if not for the elevated loss ratio in the Motor Third Party segment, where the much-needed premium revision has not happened yet. NIACL continues to lead the non-life insurance industry in India, with a market share of 12.6% in FY25. The company's growth vis-a-vis the industry over recent months, is quite encouraging. The solvency ratio has improved from 1.81x in FY24 to 1.91x in FY25, underscoring the company's financial strength. Our balance sheet remains robust, with assets under management of more than Rs 98,000 crore. The company made a provision of Rs 802 crore towards legacy non-moving reinsurance balances, which has also impacted the reported Profit After Tax and Return on Equity (ROE) in FY25, adjusted for which the YoY results have been excellent. Our focus in FY26 will remain on further enhancing profitability, with a strong emphasis on launching innovative products aimed at the retail and MSME segments."

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General Insurance company The New India Assurance Company announced Q3FY25 results

  • PAT: Rs 641.39 crore compared to Rs 775.40 crore during Q3FY24, change -17.28%.
  • Net Worth: Rs 21,515 crore compared to Rs 20,754 crore during Q3FY24, change 3.66%.
  • Return on Equity: 0.04% for Q3FY25.
  • General Reserves: Rs 16,974 crore compared to Rs 16,248 crore during Q3FY24, change 4.46%.
  • Solvency Ratio: 1.9% for Q3FY25.

Girija Subramanian, CMD, The New India Assurance Company, said: "The result for 9MFY25 has been satisfactory. The gross written premium growth at 2.4% was muted as the company had taken a conscious call to not renew certain large accounts where premiums were inadequate. The operating metrics have shown improvement with the incurred claim ratio coming down from 98.07% to 97.38%. The improvement was despite the adverse impact of increased claim ratio in the Motor segment due to the lack of price increase in the Motor Third Party line of business. Despite the intermediary remuneration levels seeing an increase due to intense competition, the combined ratio improved for the period up to Dec 24 from 120.34% to 119.08%. The combined ratio for Q3FY25 was even better at 116.33% and our efforts will be to improve the combined ratio even further. The solvency ratio has improved from 1.81x in Sep 2024 to 1.90x in Dec 2024.

I am happy to announce that we have been able to renew the prestigious government health scheme in the state of Rajasthan which will cover close to 1.3 crore families. The new policy which will start in February 2025 has seen a per-family premium increase of about 20%. The premium in the property segment has shown signs of hardening in Q4FY25. Overall growth momentum is expected to be better going forward."

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General Insurance Company The New India Assurance Company announced Q2FY25 results

  • The Holding Company has made estimated provisions based on management assessment amounting to Rs 3,806.80 and Rs 7,242.26 lakh towards wage revision during the quarter and Q2FY25 respectively and the cumulative provision up to the Q2FY25 is Rs 32,529.93 lakh.
  • The net balances due to/due from in respect of re-insurance activities of the Holding Company amounting to Rs 71,886.86 lakh (excluding Terrorism Pool of Rs 3,24,437,10 lakh and Nuclear Pool of Rs 23,767.62 lakh due from General Insurance Corporation of India (GIC Re) and Rs 24,737.74 due from Agricultural Insurance Company of India Ltd.) are subject to confirmation/reconciliation.
  • As against the Reinsurance recoverable balance of Rs 71,886.86 lakh as of Q2FY25, the Holding Company has maintained a provision of Rs 20,758.03 lakh up to Q2FY25, towards doubtful debts as a prudent measure.
  • During the Q2FY25, the Holding Company has written off (net debit) non-moving reinsurance balances of Rs 258.84 lakh.
  • In respect of the Coinsurance business, the balances with various Co-insurers represent a net receivable of Rs 98,253.80 lakh and net payable of Rs 66,136.43 lakh, which includes balances relating to PMFBY amounting to Rs 13,030.97 lakh (Net).
  • Holding Company has maintained a provision of Rs 34,075.19 lakh against a net receivable balance of Rs 982,53.80 lakh and a net payable balance of Rs 66,136.43 lakh as of Q2FY25.
  • Old balances other than policyholder dues comprising credit balances of Rs 12,390.19 lakh and debit balances of Rs 4,894.45 lakh as of Q2FY25.
  • Provision for Tax Rs 9,233 lakh (Current Tax) includes Rs 373.18 lakh relating to foreign taxes of foreign branches.
  • Fixed Deposits amounting to Rs 872,022 lakh in the Banks including those having maturity of more than three months amounting to Rs 741,768 lakh as of Q2FY25 as 'Cash and Cash Equivalent' in the Receipt and Payment Accounts.
  • Premium received from policyholders, including advance receipts of Rs 22,15,311 lakh, compared to Rs 22,54,265 lakh during Q2FY24.

Girija Subramanian, CMD, The New India Assurance Company, said: "While the premium growth in the first half has been muted, it was a conscious decision to focus on lines with better profitability which led to the company letting go of a few large renewals
where premiums were inadequate. It gives me immense satisfaction that the operating metrics have improved, with the loss ratio as well as the combined ratio being lower than in the same period last year with profit after tax showing a 5x increase. The loss ratio of the Health line of business has witnessed some improvement but the loss ratio in the Motor line of business increased due to the lack of price increase in the Motor Third Party line of business. Net catastrophic losses in H1FY25 were Rs 248 crore. The solvency ratio at 1.81 times remains comfortably above the IRDAl-mandated control level solvency margin. The competitive intensity in traditional lines remains high and the company will focus on other segments and channels to drive growth. The company expects the profitability trend to improve in the coming quarters. "

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General Insurance company The New India Assurance Company announced Q1FY25 results:

  • The New India Assurance Company reports Profit After Tax of Rs 217 crore for the quarter ending June 2024

Commenting on the results CMD Girija Subramanian said, "The gross written premium growth was muted at 3.74% as the company continued to rationalise its portfolio mix, in favour of lines where profitability is better. The incurred claim ratio was impacted by elevated loss ratio in the Motor segment, especially in the Motor third party segment where no premium increase has been notified yet. Health segment loss ratio was adversely impacted by the government business segment which saw higher incurred claims, primarily due to seasonal factors, and this segment should see improved performance going ahead. Other segments performed well. The net worth of the company has increased from Rs 44,704 crore in March 2024 to Rs 47,703 crore in June 2024. Going forward, the company will be focusing on the retail segment and better performance can be expected in the coming quarters."

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General Insurance company The New India Assurance Company announced Q1FY24 results:

  • The Gross Written Premium increased by 9.8% compared to Q1FY23. The Company continues to focus on improving the business mix by shedding businesses where premiums are inadequate and may impact its bottom line. The company maintained its market leadership in India with a market share of 16.2%.
  • The premium growth was driven by the Motor line of business which grew by 21.8%. After several years of muted growth, it is heartening to see the segment reporting healthy premium growth.
  • The combined ratio for Q1FY24 improved to 115.5% compared to 117.2% for Q1FY23. 
  • The Profit After Tax more than doubled to Rs 260 crore versus Rs 119 crore for Q1FY23 registering a growth of 118.5%.
  • The solvency ratio remained healthy at 1.85x.
  • The net worth was Rs 41,255 crore and the investment assets were Rs 90,152 crore as of June 30, 2023.
  • The underwriting results for Q1FY24 were adversely impacted due to a higher claim ratio in the foreign operations. The loss ratios in the domestic health and motor lines of business also remain elevated, but we are confident that the corrective steps being taken currently will reflect in the results in the ensuing periods.

 

 

 

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