The New India Assurance Company Limited announced an 11.5% growth in Gross Written Premium (GWP) for the half-year ended September 30, 2025. Domestic business growth outpaced the industry, increasing market share from 12.60% to 13.25%. Profit After Tax (PAT) increased by 57.7%. Underwriting performance remained strained due to multiple flood events. The solvency ratio remains strong and above regulatory requirements.
Financial Highlights for H1FY26
The New India Assurance Company Limited reported strong growth in several key areas for the first half of fiscal year 2026. Key performance indicators include:
- Gross Written Premium (GWP) grew by 11.5%, reaching ₹23,875 Cr.
- Domestic business market share increased from 12.60% to 13.25%.
- Profit After Tax (PAT) saw a significant increase of 57.7%.
Segment Performance
The growth was primarily driven by the health, property, and miscellaneous segments. However, underwriting performance was affected by multiple flood events in northern states. Key segment performance includes:
- Fire: GWP increased by 21.32% with an ICR of 91.40%.
- Marine: GWP increased by 4.34% with an ICR of 74.84%.
- Motor OD: GWP decreased by 1.30% with an ICR of 113.66%.
- Motor TP: GWP decreased by 1.37% with an ICR of 105.52%.
- Health & PA: GWP increased by 15.12% with an ICR of 105.78%.
Key Financial Ratios
Several financial ratios reflect the company’s performance and stability:
- Incurred Claim Ratio (ICR) stood at 104.22%.
- Combined Ratio was 127.21%.
- Solvency Ratio was 1.79.
Strategic Initiatives
The company is focused on several strategic initiatives to drive future growth and improve performance:
- Launching innovative new products with a focus on Retail and MSME sectors.
- Exploring new insurance lines, such as parametric insurance.
- Emphasis on growth in segments other than Motor and Health.
- Further improving risk management initiatives and global credit rating.
IT Initiatives
The company is implementing several IT initiatives to enhance customer service and operational efficiency:
- Providing call center services in 7 regional languages.
- Revamping the company website.
- Offering WhatsApp services in 8 languages for policy and claim-related services.
- Implementing AI/ML-enabled chatbots for customer service.
- Continuing claim automation efforts for faster settlement.
Source: BSE