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New India Assurance Company Ltd share Price Today

Company details

242.05
253.58
113.90
324.70
6M Return 3.89%
1Y Return 105.77%
Mkt Cap.(Cr) 40,235.92
Volume 3,642,952
Div Yield 0.79%
OI
-
OI Chg %
-
Volume 3,642,952

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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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New India Assurance Company Ltd shares SWOT Analysis

Strengths (9)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year

Weakness (0)

Data not found

Opportunity (2)

  • Highest Recovery from 52 Week Low
  • RSI indicating price strength

Threats (2)

  • Increasing Trend in Non-Core Income
  • Increase in Provisions in Recent Results

Resistance and support

R1 251.1
R2 258.1
R3 262.7
Pivot

246.59

S1 239.6
S2 235.1
S3 228.1
EMA SMA
232.4
232.6
228.8
208.7
232.4
230.7
241.6
206.7
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
Name Category Shares
Government Of India In The Name Of President Of India PROMOTER 85.44%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

New India Assurance Company Ltd Stocks COMPARISON

Financials( in Cr) New India Assurance Company Ltd Life Insurance Corporation of India SBI Life Insurance Company Ltd HDFC Life Insurance Company Ltd ICICI Prudential Life Insurance Company Ltd
Price 244.15 1,066.85 1,469.90 598.35 613.70
% Change 0.98 6.44 1.38 0.82 2.94
Mcap Cr 40,235.92 674,782.41 147,205.34 128,701.73 88,410.60
Revenue TTM Cr 41,007.35 784,627.64 80,635.64 70,207.08 89,683.04
Net Profit TTM Cr 1,061.29 35,996.65 1,720.57 1,368.28 850.66
PE TTM 36.07 16.49 77.68 81.70 104.10
1 Year Return 105.77 78.13 18.23 2.32 20.89
ROCE 3.74 0.95 0.66 0.62 0.38
ROE 5.19 124.84 14.14 9.60 8.34
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 25,453.36 Cr FV: 5.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 33,119.99 -408.46
LAST 3M 113,155.52 -36,230.77
LAST 6M 183,603.09 -15,050.11
LAST 12M 290,144.87 98,834.05

New India Assurance Company Ltd Information

Stock PE (TTM)
36.07
Promoter Holding
85.44%
Book Value
171.6989
ROCE
3.74%
ROE
5.19%
Description
  • The New India Assurance Company Limited is the largest general insurance company in India in terms of net worth, domestic gross direct premium, profit after tax and number of branches. The Company`s operations are spread across 29 States and seven Union Territories in India and across 26 other countries globally through a number of international branches, agency offices and Subsidiaries including a desk at Lloyd`s, London. The Company`s insurance products can be broadly categorized into the following product verticals: fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products. The Company is registered with IRDAI for carrying out the business of general insurance. The New India Assurance Company Limited was incorporated as a Limited Company on July 23, 1919 at Mumbai, Maharashtra, India. The Company obtained the Certificate of Commencement of Business on October 14, 1919. In 1920, within one year of the incorporation of the Company, New India Assurance Company opened an office in London. After that, the Company saw a steady increase in presence abroad with Manila, Port Louis and Japan. In 1956, New India Assurance Company transferred life insurance business to the Life Insurance Corporation of India, which formed under the Life Insurance Corporation Act, 1956, pursuant to which life insurance business in India was nationalized. In 1973, The General Insurance Corporation of India was formed under the General Insurance Business (Nationalization) Act, 1972, which provided for nationalization of general insurance business in India. New India Assurance Company became a subsidiary of the General Insurance Corporation of India after the Government of India (GoI) transferred its entire shareholding in general insurance companies to the General Insurance Corporation of India. Pursuant to the 1973 Scheme, which came into force on January 1, 1974, New India Assurance Company was nationalized by the Government of India. In 2003, pursuant to the General Insurance Business (Nationalization) Amendment Act, 2002, the General Insurance Corporation of India transferred its entire shareholding in New India Assurance Company to the GoI. New India Assurance Company crossed premium of Rs 10000 crore during 2011-12. In 2016, the Company received approval for opening an office at Gujarat International Finance Tec-City, Gandhinagar. The Company crossed premium of Rs 20000 crore during 2016-17. In November 2017, New India Assurance Company came out with an initial public offer (IPO). The IPO was a combination of fresh issue of shares by the company and offer for sale of a portion of its stake by Government of India (GoI). The stock debuted at Rs 748.90 on BSE on 13 November 2017 compared with IPO price of Rs 800 per share. The Board of Directors of The New India Assurance Company Ltd at its meeting held on May 11, 2018, recommended issue of bonus shares in proportion of 1:1 (ie. 1 new bonus equity share of Rs. 5 each for every 1 equity shares of Rs. 5 each held), subject to approval of the shareholders. During year 2019, Company`s foreign operations saw a gross written premium turnover in rupee equivalent of Rs. 3530.37 crores and a Net Premium of Rs. 2839.09 crores in FY 2018-19. The foreign operations recorded an underwriting (loss) of Rs. (543.10) crores and Profit After Tax was Rs. (389..90) crores. It approved 67 New Micro Offices and opened 35 new Micro Offices. During year 2019, 10 Micro Offices were upgraded to Branch Offices and 18 Branch Offices were upgraded to Divisional Offices. As on 31st March 2019, the Company has a network of 31 Regional Offices, 7 Large Corporate Offices, 1 Auto Hub, 1 IFSC, 477 Divisional Offices, 594 Branch Offices, 25 Direct Agent Branches and 1257 Micro Offices, totaling 2395 offices inclusive of Head Office. During the year 2019, 22 new products were launched by the Company. During FY2019, the Company issued Bonus Equity Shares of Rs. 5 each in the ratio of 1:1 to the existing shareholders of the Company for which, allotment date was 29 June, 2018. During year 2020, the Company serviced more than 30 million policies. As on 31st March 2020, the Company has a network of 31 Regional Offices, 7 Large Corporate Offices, 1 Auto Hub, 1 office at International Financial Services Centre, 1 Digital Hub, 474 Divisional Offices, 591 Branch Offices, 25 Direct Agent Branches and 1160 Micro Offices, totaling 2292 offices inclusive of Head Office. The Company`s foreign operations saw a gross written premium turnover in rupee equivalent of Rs. 3747.58 crores and a Net Premium of Rs. 3042.99 crores in FY 2019-20. The foreign operations recorded an underwriting profit of Rs. 73.31 crores and Profit After Tax was Rs. 214.91 crores. Gross Written Premium increased to Rs. 31244 crores, recording a growth of 11.52% in 2019-20. During the year 2020, two new products were approved by the Regulator - IRDAI (Stand Alone Motor Own Damage Policy for Two-Wheeler and for Private Car). During FY2021, Global Gross Written Premium increased to Rs. 28663 crores, recording a growth of 6.16% in% in 2020-21. The Company`s foreign operations saw a gross written premium turnover in rupee equivalent of Rs. 3888.83 crores and a Net Premium of Rs. 3070.24 crores in 2020-21. The foreign operations recorded an underwriting profit of Rs. 75.69 crores and Profit After Tax was Rs. 196.21 crores. During the year 2021, Company opened 1 Regional Government Business Office (RGBO) for better servicing and closed 1 Divisional Office, 2 Branch Offices and 76 Micro Offices. During the year 2021, eight new products were approved by the Regulator - IRDAI (Nil Depreciation Add-on Cover under Commercial Vehicles, Roadside Assistance Add-On Cover under Annual Policy, Bundled Policy, Stand Alone Motor Own Damage Policy for Two-Wheeler and Private Car separately and under Long Term Two-Wheeler Package Policy for 2 & 3 years). During FY 2020-2021, Company selected Punjab Sind Bank as its General Insurance business partner. During the year 2021, Company opened 1 Micro Office for better servicing and closed 3 Branch offices and 41 Micro Offices. During FY2022, Global Gross Written Premium increased to Rs. 32837 crores, recording a growth of 14.56% in 2021-22. The Company`s foreign operations saw a gross written premium turnover in rupee equivalent of Rs. 3644.41 crores and a Net Premium of Rs. 2916.94 crores in 2021-22. The foreign operations recorded an underwriting loss of Rs 206.35 crores and Loss after Tax was Rs. 2.95 crores. As on 31st March 2022, the Company has a network of 31 Regional Offices, 7 Large Corporate Offices, 1 Auto Hub, 1 RGBO,1 IFSC, 1 Digital Hub, 473 Divisional Offices, 584 Branch Offices, 25 Direct Agent Branches and 1046 Micro Offices, totaling 2171 offices inclusive of Head Office. New India Assurance has tie-up with PSU i.e. Canara Bank, Punjab and Sind Bank, Central Bank of India and 3 private banks including IDBI &1 foreign bank i.e. Citibank, besides 30 Scheduled Cooperative Banks during FY 2021-2022. In FY 2021-2022 Bancassurance contributed Rs 267.66 cr. premium income and ICR was 82.34%. During FY2022, Global Gross Written Premium increased to Rs. 34800 crores, recording a growth of 5.98% in 2022-23. The Company`s foreign operations saw a gross written premium turnover in rupee equivalent of Rs. 3,990.81 crores and a Net Premium of Rs. 3,245.75 crores in 2022-23. The foreign operations recorded an underwriting loss of Rs 263.71 crores and Loss after Tax was Rs. 107.14 crores. As on 31st March 2023, the Company has a network of 31 Regional Offices, 7 Large Corporate Offices, 1 Auto Hub, 1 RGBO,1 IFSC, 1 Digital Hub, 469 Divisional Offices, 564 Branch Offices, 23 Direct Agent Branches and 816 Micro Offices, totaling 1915 offices inclusive of Head Office. New India Assurance has tie-up with PSU i.e. Canara Bank, Punjab and Sind Bank, Central Bank of India and 3 private banks including IDBI &1 foreign bank i.e. Citibank, besides 30 Scheduled Cooperative Banks during FY 2022-23. In FY 2022-23, Bancassurance contributed Rs 248.12 cr. premium income and ICR was 82.34%.

Registered Address

New India Assurance Building, 87 M G Road Fort, Mumbai, Maharashtra, 400001

Tel : 91-22-22708263
Email : investors:newindia.co.in
Website : http://www.newindia.co.in
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Oct
Face Value Equity Shares : 5
Market Lot Equity Shares : 1
BSE Code : 540769
NSE Code : NIACL
Book Closure Date (Month) :
BSE Group : A
ISIN : INE470Y01017

FAQ’s on New India Assurance Company Ltd Shares

You can buy New India Assurance Company Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy New India Assurance Company Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 14, 2024 03:59 PM the closing price of New India Assurance Company Ltd was Rs.244.15.

The latest PE ratio of New India Assurance Company Ltd as of Jun 14, 2024 03:59 PM is 36.07

The latest PB ratio of New India Assurance Company Ltd as of Jun 14, 2024 03:59 PM is 0.70

The 52-week high of New India Assurance Company Ltd share price is Rs. 324.70 while the 52-week low is Rs. 113.90

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 14, 2024 03:59 PM, the market cap of New India Assurance Company Ltd stood at Rs. 40,235.92.

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