Girija Subramanian, CMD,NIA said,“Our domestic gross direct premium growth significantly outpaced the industry average, resulting in our market share improving to 13.4 per cent, compared to 12.8 per cent in the corresponding previous year. While the incurred claim ratio for the nine-month period was elevated due to multiple catastrophic (CAT) losses in the first half of the year, we saw an improvement in the third quarter. The Q3FY26 incurred claim ratio stood at 90.77 per cent, a significant improvement over the 94.49 per cent reported in Q3FY25.”
Mumbai: With higher investment income and gross premium, New India Assurance(NIA), the largest general insurance multinational, has recorded a profit of Rs 375 crore, up almost by 10 per cent year- on- year(Y-O-Y) in Q3FY26.
The insurer, which announced its third quarterly results today, had posted a net profit of Rs344 crore In Q3FY25.
NIA’s gross premium had risen by over 8.30 per cent (Y-O-Y) to Rs 11,762 crore in the reporting period.
The company’s expenses of management(EoM) had fallen from 19.57 per cent in Q3FY25 to 17.48 per cent in Q3 FY26.
The combine ratio of the company , a key financial parameter for measuring underwriting profitability, stood at 117.97 per cent in Q3FY26 as compared to 116.26 per cent in the corresponding period of the previous fiscal. A ratio below 100% indicates an underwriting profit, while over 100% signifies a loss.
The underwriting losses of the company were at Rs 1740crore in Q3FY26 against Rs 1,451 crore in Q3FY25.
Commenting on the results Girija Subramanian, CMD,NIA said,“Our domestic gross direct premium growth significantly outpaced the industry average, resulting in our market share improving to 13.4 per cent, compared to 12.8 per cent in the corresponding previous year. While the incurred claim ratio for the nine-month period was elevated due to multiple catastrophic (CAT) losses in the first half of the year, we saw an improvement in the third quarter. The Q3FY26 incurred claim ratio stood at 90.77 per cent, a significant improvement over the 94.49 per cent reported in Q3FY25.”
In January 2026, following the Central Government’s approval of wage revisions for Public Sector General Insurance Companies, the company recognized provisions of approximately Rs 2,500 crore toward wage arrears and retirement benefits, informed Subbramanian.
“ While this had a substantial impact on the Combined Operating Ratio, it was partially offset by robust investment income from our equity portfolio. Despite these one-time costs, the company reported stellar profit before tax (PBT) growth of 62% for the nine-month period and an exceptional 215 per cent for the quarter,;’ stated Subramanian.
The company continues to have a very strong balance sheet which reflects overall improvements in net worth, general reserves as well as sustaining a healthy solvency ratio of 1.81 times which is well above the regulatory requirement of 1.50 times, elaborated Subramanina.
“Guided by ongoing government reforms, I remain highly optimistic about the prospects of the general insurance industry. We expect to maintain this momentum and deliver improved performance in the coming quarter,” outlined Subramanian.