The New India Assurance Company (NIACL) Q4 24/25 earnings summary

Executive summary

• Achieved record Gross Written Premium (GWP) of ₹43,618 crore in FY25, up 3.86% year-over-year, maintaining a 12.6% market share and leadership in general insurance across India and 25 countries.

• Operational efficiency improved with the combined ratio reduced to 116.78% from 119.88% in FY24, and underwriting losses reduced by 11% year-over-year.

• Net profit after tax declined 12.86% to ₹988 crore in FY25 from ₹1,129 crore in FY24, mainly due to a one-time provision for legacy non-moving reinsurance balances.

• Maintained strong credit ratings from CRISIL (AAA) and AM Best (B++), with a stable outlook.

• Board recommended a final dividend of ₹1.80 per share, subject to AGM approval.

Financial highlights

• Gross Written Premium reached ₹43,618 crore in FY25, up from ₹41,996 crore in FY24; Net Written Premium was ₹36,315 crore; Net Earned Premium was ₹35,368 crore.

• Net profit after tax for FY25 was ₹988 crore, impacted by a one-time provision of ₹802 crore for legacy reinsurance balances.

• Investment income for FY25 was ₹8,034 crore, down from ₹9,241 crore, mainly due to lower capital gains amid volatile equity markets.

• Return on equity was 4.66% in FY25, down from 5.58% in FY24.

• Solvency ratio improved to 1.91x as of March 31, 2025, up from 1.81x in March 2024.

Outlook and guidance

• Focus for FY26 will be on enhancing profitability, launching innovative products for retail and MSME segments, and driving insurance penetration in new markets.

• Continued emphasis on profitable growth, risk management, and digital transformation to improve operational efficiency and loss ratios.

• No immediate plans for further health insurance price hikes; monitoring performance before revising rates.