“ We have an excellent financial results during FY 26. The profit after tax improved by 40 per cent  for the year and 61 per cent for the 4th quarter. The Indian business grew faster than the industry, and the company’s market share increased from 12.56 per cent  to 12.74 per cent during the year, compared to the same period last year.The solvency ratio remains healthy at 1.84. I remain optimistic about the company’s growth prospects in FY27 with strong focus on retail and MSME segments,’’ Girija Subramanian,CMD, New India Assurance

Mumbai:New India Assurance(NIA),the country’s largest general insurance multinational ,reported a strong 61per cent year-on-year jump in net profit to Rs 558 crore in Q4FY26, despite higher claims and expenses.

The multiline general insurer recorded  a gross premium of Rs 11,619 crore, the highest in the Indian general insurance industry, in Q4FY 26 as compared to Rs 11,433 crore  in the corresponding quarter of FY25.

For FY26, net profit climbed 40 per cent to Rs1,384 crore, while gross premium grew eight per cent to Rs 47,174 crore. The insurer also expanded its market share to 12.74 per cent, with a healthy solvency ratio of 1.84.

NIA has declared a dividend of Rs1.50 per share in FY26.

“We have an excellent financial results during FY 26. The profit after tax improved by 40 per cent  for the year and 61 per cent for the 4th quarter. The Indian business grew faster than the industry, and the company’s market share increased from 12.56 per cent  in FY 25 to 12.74 per cent in FY 26.The solvency ratio remains healthy at 1.84.I remain optimistic about the company’s growth prospects in FY27 with strong focus on retail and MSME segments,’’ said Girija Subramanian, CMD, NIA.

However, the company’s underwriting losses widened 61per cent to Rs 1,836 crore in Q4, as incurred claims rose 8.7 per cent to Rs 9,555 crore. The incurred claim ratio increased to 95.85 per cent, driven by higher losses in the Motor Third Party segment and an aviation loss.

The insurer’s incurred claim ratio was 95.85 per cent in Q4FY26 as compared to 94.43 per cent in Q4FY25.

“The incurred claim ratio was impacted due to the higher loss ratio in the Motor Third Party segment, where the long-awaited premium revision has not yet happened. The unfortunate loss in the aviation segment also contributed to the higher incurred claim ratio in the current year compared to the previous year,’’ explained Subramanian.

NIA’s Health segment witnessed an improvement in loss ratio, while the Motor segment performance was impacted by the intense competitive environment and lack of premium revision in the Motor TP segment, highlighted Subramanian.

The insurer’s Fire, Engineering, Liability, and Crop portfolios delivered underwriting profits in Q4FY26.

The company’s combined ratio, a key matrix among non-life insurers to measure profitability, rose to 118.34 per cent in Q4FY26 from 111.46 per cent in the year-ago period, largely due to wage and family pension revisions worth Rs 3,525 crore. Excluding this, the ratio stood at 113.98 per cent.

The impact of wage revision and revision in family pension to the tune of Rs.3525 crore, during the year, has pushed the combined ratio of the company to 118.34 per cent in the last quarter of the FY26 from 111.46 per cent in the corresponding quarter of FY 25.

Excluding the wage revision, the insurer’s combined ratio was at 113.98 per cent for the reporting quarter.

Investment income of the company has gone up by 7.4 per cent Y-O-Y to Rs 2513 crore in the last quarter of FY 26.

“The company was able to absorb the full impact of wage revision and revision in family pension amounting to Rs3525 crore during the year.The entire impact of revision in the family pension from 15 per cent  to 30 per cent  as notified by the government and amounting to Rs597 crore was absorbed during the fourth quarter.The adverse impact was partially offset by better investment returns during the year. The combined ratio for the year, adjusted for the wage revision-related impact was 116.67 per cent compared to 115.34 per cent in the previous year,’’ stated Subramanian.