Business EconomyPosted at: May 20 2025 12:13AM


New India Assurance reports record Rs 43,618 cr GWP in FY25

Mumbai, May 19 (UNI) The New India Assurance Company Ltd (NIACL), India’s largest general insurer by market share, on Monday announced its financial results for the fourth quarter and full fiscal year ending March 31, 2025, registering an all-time high Gross Written Premium (GWP) alongside notable operational improvements.
The company’s GWP rose by 3.86 percent to Rs 43,618 crore in FY25, compared to Rs 41,996 crore in the previous fiscal year. NIACL maintained its leadership position with a market share of 12.6 percent in the general insurance sector.
Operational efficiencies contributed to a reduction in the combined ratio from 120 percent in FY24 to 117 percent in FY25. The solvency ratio strengthened to 1.91 times as of March 31, 2025, up from 1.81 times a year earlier, reflecting enhanced financial stability.
Girija Subramanian, Chairman and Managing Director, said, "It gives me great pleasure to report NIACL’s record Gross Written Premium of Rs 43,618 crore in FY25 despite challenging market conditions. Our focus on profitable growth has yielded results, with underwriting losses reduced by 11 percent due to a lower claim ratio and significant cost optimisation. The combined ratio improved from 119.88 percent to 116.78 percent year-on-year."
She added, "While the Motor Third Party segment’s elevated loss ratio restrained further improvement due to delayed premium revisions, NIACL’s continued market leadership and improved solvency underscore our robust position. The balance sheet remains strong with assets under management exceeding Rs 98,000 crore. Provisions amounting to Rs 802 crore for legacy reinsurance balances impacted net profit and ROE, but adjusted results show excellent year-on-year performance."
The company reported a net profit of Rs 988 crore in FY25, down by 12.86 percent from Rs 1,129 crore in FY24, primarily due to the legacy provisions.
Girija concluded, "In FY26, we will focus on enhancing profitability and launching innovative products targeting retail and MSME segments to sustain growth and value creation for stakeholders."
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