NIACL News, Corporate filings and Earnings/Conference Calls

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." Result PDF

28.05% Fall from 52W High

NIACL News, Corporate filings and Earnings/Conference Calls

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