The New India Assurance Company Limited has informed the Exchange regarding Board meeting held on July 29, 2025.
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The board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Net premium written rose to ₹10,83,990 lakhs from ₹9,57,690 lakhs a year ago, while total income reached ₹11,02,569 lakhs. Profit after tax jumped to ₹39,101 lakhs from ₹21,697 lakhs in Q1 FY25, with EPS at ₹2.37 versus ₹1.37 earlier. However, underwriting loss widened sharply to ₹(1,75,559) lakhs, driven mainly by Health and Motor segments posting losses of ₹1,18,600 lakhs and ₹82,805 lakhs respectively. Combined ratio deteriorated to 116.16% and incurred claim ratio rose to 99.76%. Solvency ratio stood at 1.87x. The board also appointed M/s Ragini Chokshi & Co. as statutory auditor for FY 2025-26 to 2029-30. Auditors issued a qualified/modified review opinion citing pending reconciliation of reinsurance and co-insurance balances, and highlighted contingent liabilities of ₹5,79,811 lakhs in tax demands and additional GST-related exposures.
Positive YoY earnings growth and improved return on equity (7.17% vs 4.15%) are positives for shareholders, but the deepening underwriting losses and a combined ratio above 116% point to ongoing profitability stress in core insurance operations. The qualified audit opinion and large contingent liabilities (tax plus GST) remain key risk overhangs, though solvency remains comfortably above the regulatory 1.50x requirement.