General Insurance company The New India Assurance Company announced Q1FY25 results: The New India Assurance Company reports Profit After Tax of Rs 217 crore for the quarter ending June 2024 Commenting on the results CMD Girija Subramanian said, "The gross written premium growth was muted at 3.74% as the company continued to rationalise its portfolio mix, in favour of lines where profitability is better. The incurred claim ratio was impacted by elevated loss ratio in the Motor segment, especially in the Motor third party segment where no premium increase has been notified yet. Health segment loss ratio was adversely impacted by the government business segment which saw higher incurred claims, primarily due to seasonal factors, and this segment should see improved performance going ahead. Other segments performed well. The net worth of the company has increased from Rs 44,704 crore in March 2024 to Rs 47,703 crore in June 2024. Going forward, the company will be focusing on the retail segment and better performance can be expected in the coming quarters." Result PDF