Transcript of the Conference Call held on 14th May, 2026

The New India Assurance Company reported FY26 gross written premium of INR 47,174 crores (up 8.15% YoY) and net profit after tax of INR 1,384 crores (up 40% YoY). For Q4 FY26, PAT stood at INR 558 crores, a 61% increase over the same period last year. The combined ratio worsened to 122.57% from 116.78% primarily due to INR 3,525 crores in wage revision expenses, though adjusted for this impact it would have been 116.67%. The incurred claims ratio increased from 96.61% to 98.65% due to the Air India crash claim, NATCAT flood claims, and rising Motor third-party claims. Health segment showed improved ICR from 101.3% to 99.09% through enhanced TPA audits. The company is pursuing a 'Go Retail' strategy for FY27 and recalibrating its Motor portfolio to improve profitability, with management expecting Motor loss ratios to improve over the next year. Market share increased from 12.56% to 12.74%.