Mumbai, February 3, 2026: The New India Assurance Company Ltd. (NIACL), a public sector general insurance giant, has released its revised investor presentation for the quarter ended December 31, 2025. The results showcase a tale of robust top-line growth and strong investment returns successfully countering a significant one-time expense related to employee wages.
Key Financial Highlights (9 Months FY26 vs. 9 Months FY25):
-
Profitability Surge: Profit Before Tax (PBT) grew sharply by 62.5% to ₹10,778 crore, up from ₹6,629 crore in the same period last year. Profit After Tax (PAT) for the quarter stood at ₹988 crore.
-
Top-Line Growth: Gross Written Premium (GWP) increased by 10.5% to ₹43,618 crore.
-
Market Leadership Strengthened: The company's domestic market share rose from 12.80% to 13.40%, with growth outpacing the industry average of 8.69%.
The Dual Impact of Wage Revision:
A defining feature of this quarter's results is a massive provision of ₹2,519 crore made towards wage arrears (effective from August 2022) and increased liabilities for employee retirement benefits. This provision had a dual negative impact:
-
On Underwriting: It increased the Combined Ratio (a measure of underwriting profitability) by 6.4% for the nine-month period, pushing it to 116.78%.
-
On Expenses: It significantly raised operating costs.
Investment Income to the Rescue:
The adverse impact on underwriting was largely neutralized by a stellar performance in the investment portfolio. Buoyant equity markets helped the company realize capital gains of ₹8,034 crore for the nine-month period, a substantial increase. Total Investment Income reached ₹17,732 crore, providing a critical cushion to overall profitability.
Segment-Wise Performance:
-
Health and Personal Accident was the largest growth driver, with GWP up 18.42% in Q3.
-
Fire and Miscellaneous segments also showed strong growth.
-
The Motor portfolio saw a slight decline in premium but was adversely affected by flood events in northern states.
-
The Incurred Claims Ratio (ICR) for the Health segment remained elevated but showed improvement in Q3.
Management Commentary:
Mrs. Girija Subramanian, Chairperson & Managing Director, stated, "The underwriting performance has improved in the 3rd quarter, inspite of multiple flood events... Our overall incurred claims ratio has improved during the quarter." She expressed optimism for the last quarter, expecting improved loss ratios and continued growth ahead of the industry.
Strategic Focus:
The company highlighted its ongoing IT initiatives, including AI/ML chatbots and claim automation. The strategy emphasizes launching innovative products for Retail and MSME segments, entering new lines like parametric insurance, and improving its global credit rating.
The revised investor presentation has been filed with the BSE and NSE and is available on the company's website.
About The New India Assurance Co. Ltd.:
Incorporated in 1919, The New India Assurance Company Ltd. is India’s largest public sector general insurance company, with a presence in 24 countries. It holds a domestic market share of 13.4% and is rated ‘AAA’ by CRISIL.