Lto R-Kasturi Sengupta,executive director(ED), Girija Subramanian, CMD, Nirmala Sitharaman, Finance Minister, Smita Srivastava, ED, Shwetha Rao,director, Department of Financial Services, at the dividend handing over ceremony of New India Assurance in New Delhi on Wednesday

New Delhi:New India Assurance(NIA), the country’s largest general insurance multinational, has paid a dividend of Rs 253.44 crore to the government in FY 24-25.

Girija Subramanian, CMD, NIA along with executive directors, Kasturi Sengupta and Smita Srivastava, of the company, had met Nirmala Sitharaman, Finance Minister, in New Delhi, on Wednesday, to hand over the dividend cheque.

NIA maintained its position as the largest general insurer in India, with an all-time high gross written premium (GWP) of over Rs 43,618 crore and a market share of 12.57 per cent in Fy 25.

The company’s net profit for the full fiscal year 2024-2025 was Rs 988 crore.

The company maintained a strong solvency ratio of 1.91x, well above the regulatory requirement, reflecting its financial stability.

The Insurance Regulatory and Development Authority of India (IRDAI) has consistently identified NIA as a Domestic Systemically Important Insurer (D-SII). This designation is reserved for insurers whose size, market importance, and domestic and global interconnectedness are so significant that their distress or failure could cause a major disruption to the domestic financial system.

The company has a significant global presence, operating in over 25 countries.

The company provides complex and specialized coverage for large-scale operations, including aviation, marine insurance, or property insurance for large risks.

At the other end of the spectrum, it caters to the rural and underserved markets with a range of micro-insurance products, demonstrating a commitment to serving a wide array of customers and their unique needs.