New India Assurance Q1 Profit Jumps 80% to ₹391 Crore

New India Assurance Company Ltd reported a solid set of numbers for the June 2025 quarter, with profit after tax rising sharply to ₹391 crore. This is an 80% increase over the same period last year.

The company posted a gross written premium of ₹13,334 crore in Q1FY26, marking a year-on-year growth of 13.11%. Its performance in the domestic market stood out, with gross direct premium climbing 15.27%, well ahead of the industry average growth of 8.84%.

Despite the overall growth, the quarter wasn’t without challenges. The insurer said the recent Air India incident had an adverse impact on its underwriting results. Loss ratios in the health segment were slightly higher, and large claims affected both the liability and miscellaneous business lines. The company also made provisions against some legacy balances that had been stagnant.

However, strong investment income helped cushion the impact from these setbacks. Speaking on the performance, Girija Subramanian, Chairperson and Managing Director, said the company’s market share improved to 15.51% from 14.65% in the year-ago period. She noted that the domestic growth came despite a muted performance in the Motor insurance segment, where the company has adopted a more cautious stance due to intense competition.

Growth in the Fire, Engineering, and Health insurance portfolios provided support during the quarter. The insurer’s balance sheet remained healthy. Assets under management stood at ₹1,00,802 crore, while net worth came in at ₹45,414 crore. The solvency ratio was reported at 1.87x, well above the regulatory requirement. The combined ratio, a key measure of underwriting profitability, stood at 116.16%, broadly in line with last year.

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