State-owned normal insurer The New India Assurance Company reported 2% decline in standalone net revenue for the March quarter to ₹346.63 crore from the ₹353.93 crore a yr earlier.
The decrease net revenue got here at the same time as gross written premium (GWP) elevated greater than 8% to ₹11,432.57 crore (₹10,571.88 crore) whereas whole bills diminished lower than 2% to ₹10,449.01 crore (₹10,639.87 crore).
For 2024-25, GWP elevated 3.86% yr on yr to a brand new excessive of ₹43,618 crore (₹41,996 crore). The firm retained the market chief tag with a market share of 12.6%, NIACL mentioned in a launch on the outcomes for the fiscal.
Net revenue for the fiscal, nonetheless, declined greater than 12% to ₹988 crore (₹1,129 crore) due to provisions made in the direction of legacy non-moving balances, it mentioned.
The all-time excessive GWP got here regardless of difficult market situations. “Despite the rise in GWP, the company has managed to reduce underwriting losses by 11% driven by lower claim ratio and significant reduction in operating costs. The combined ratio has improved from 119.88% in FY24 to 116.78% in FY25. It could have been greater if not for elevated loss ratio in the motor third party segment, where the much-needed premium revision has not happened yet,” CMD Girija Subramanian mentioned.
The firm made a provision of ₹802 crore in the direction of legacy non-moving reinsurance balances, which impacted the revenue after tax and return on fairness. “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,” she mentioned.
The solvency ratio improved to 1.91 (1.81). The stability sheet stays strong, with property underneath administration of greater than ₹98,000 crore, the corporate mentioned.
₹1.80 dividend
The firm has declared a remaining dividend of ₹1.80 per fairness share (of face worth of ₹5 every).
Published – May 20, 2025 09:46 pm IST