The New India Assurance Company (NIACL) Q3 24/25 earnings summary

Executive summary

• Maintained market leadership with a 12.8% share and presence in 25 countries, leveraging over 106 years of experience and supported by AAA ratings and ISO 27001:2022 certification.

• Profit after tax for the nine months ended December 2024 was ₹641 crore, down 17.28% year-over-year, attributed to weaker investment income and selective non-renewal of large, low-premium accounts.

• Gross written premium grew 2.42% year-over-year to ₹32,186 crore, with net earned premium at ₹26,061 crore.

• Renewed the Rajasthan Government Health Scheme with a 20% premium increase, covering 1.3 crore families from February 2025.

• Emphasized digital transformation, with a 50% sales growth via PhonePe and new WhatsApp-enabled services.

Financial highlights

• Gross written premium reached ₹32,186 crore; net earned premium at ₹26,061 crore for the nine months ended December 2024.

• Profit after tax was ₹641 crore, down from ₹775 crore year-over-year, mainly due to weaker equity markets and selective non-renewal of large accounts.

• Net worth (including fair value changes) rose to ₹46,506 crore from ₹44,704 crore in March 2024.

• Investment assets stood at ₹97,690 crore, with 17% in equities and 76% in government/state securities.

• Technical reserves increased to ₹52,536 crore as of Q3 FY 2024-25.

Outlook and guidance

• Anticipates robust growth recovery in Q4 FY25, especially in property insurance, with continued focus on profitable underwriting.

• Expects fire/property segment pricing to stabilize and improve portfolio performance in the coming quarter.

• Ongoing dialogue with regulators for a likely increase in Motor TP premiums.

• Focus on increasing return on equity, market share, and profit margin by leveraging economies of scale and technology.