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HomeMarket NewsStocks NewsNew India Assurance Q4 net profit slips to ₹347 crore; Gross Written Premium up 8%
Gross Written Premium (GWP) during Q4 grew 8.1% year-on-year to ₹11,432.6 crore, compared to ₹10,571.9 crore in the corresponding period last year. Shares of New India Assurance Company Ltd ended at ₹181.25, up by ₹2.35 or 1.31% on the BSE.
State-owned general insurer, The New India Assurance Company Ltd, on Monday (May 19) reported a 2.1% year-on-year (YoY) dip in net profit at ₹346.6 crore for the fourth quarter that ended March 31, 2025. In the corresponding quarter of the previous fiscal, The New India Assurance Co. posted a net profit of ₹353.9 crore.
The company reported an operating profit of ₹516.8 crore for the fourth quarter ended March 31, 2025, more than double the ₹208.8 crore recorded in the same period last year.
The company also narrowed its underwriting loss to ₹1,142.6 crore from ₹1,682.6 crore in the year-ago quarter. Gross Written Premium (GWP) during Q4 grew 8.1% year-on-year to ₹11,432.6 crore, compared to ₹10,571.9 crore in the corresponding period last year.
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On the asset quality front, the company’s gross NPA stood at 0.23% in Q4FY25, down from 0.72% in the previous quarter. The combined ratio improved to 111.46% from 116.28% on a sequential basis, indicating enhanced operational efficiency.
For the full financial year FY25, New India Assurance posted a Gross Written Premium of ₹43,618 crore, marking a 3.86% increase from ₹41,996 crore in FY24. Despite the growth in premium and operational improvements, the company’s net profit fell 12.86% to ₹2,988 crore in FY25, compared to ₹3,429 crore in FY24, primarily due to provisions made towards legacy non-moving balances.
The company continued to lead the general insurance market with a market share of 12.6%. The combined ratio improved from 120% in FY24 to 117% in FY25, and the loss ratio slightly improved to 96.61% from 97.36%. Additionally, the solvency ratio strengthened to 1.91x as of March 31, 2025, up from 1.81x a year earlier.
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The results came after the close of the market hours. Shares of New India Assurance Company Ltd ended at ₹181.25, up by ₹2.35 or 1.31% on the BSE.
