Girija Subramanian, CMD. NIA

“ Our domestic gross direct premium during the period grew by 15.27 per cent vis-à-vis the industry which grew by 8.84 per cent. Consequently, our market share for the period increased from 14.65 per cent to 15.51 per cent. The healthy growth rate in domestic business was despite a lower growth in Motor portfolio where we have taken a more cautious approach considering the current competitive intensity.”Girija Subramanian, CMD, NIA

Mumbai: New India Assurance(NIA), the country’s largest general insurance multinational, has seen its net profit surging by 80 per cent year-on year(Y-O-Y) to Rs 391 crore in the first quarter for the first quarter ending June 30, 2025.

NIA has achieved a gross written premium of Rs 13,334 crore reflecting a YoY growth of 13.11 per cent in Q1FY26.

Girija Subramanian, CMD. NIA, said, “The domestic gross direct premium during the period grew by 15.27 per cent vis-à-vis the industry which grew by 8.84 per cent. Consequently, our market share for the period increased from 14.65 per cent to 15.51 per cent. The healthy growth rate in domestic business was despite a lower growth in Motor portfolio where we have taken a more cautious approach considering the current competitive intensity.”

The insurer’s Fire, Engineering and Health portfolios registered a healthy growth during the reporting quarter.

“Health segment witnessed a slightly higher loss ratio and some large losses impacted the Liability and Miscellaneous portfolios as well. Additionally, provisions were made towards some legacy non-moving balances which were offset by a healthy investment income. The unfortunate incident involving the Air India flight had an adverse impact on the underwriting results,” added Subramanin.

The company’s combined ratio at 116.16 per cent was stable compared to the same period last year while underwriting losses have risen by 10 per cent YoY to Rs 1756 crore in Q1FY 26.

However, NIA’s investment income has risen by almost 25 per cent YoY to Rs 2290 crore in Q1 FY 26.

The company currently has assets under management of Rs 1,00,802 crore and net worth of Rs 45,414 crore .

NIA’s solvency ratio was stable at 1.87x. as on June 30, 2025.

Meanwhile, Shwetha Rao B, director, Department of Financial Services, has been inducted as a second government nominee director in NIA. Parshant K Goyal, joint secretary, DFS , is already a government nominee director in NIA.