New India Assurance Achieves All-Time High Gross Written Premium of Rs. 43618 Cr. in FY 2024-25

The New India Assurance Company Ltd, a leading general insurance company in India, announced its financial results for the FY 2024-25 at its 106th annual general meeting. The company reported an all-time high gross written premium of Rs. 43618 cr., a 3.86% growth. The net profit after tax was Rs. 988 Cr., reflecting a 12.49% decrease due to one-time provisioning of Rs. 802 crores for legacy non-moving reinsurance balances. The company's core operational performance remains strong with improved solvency ratio, decreased incurred claims ratio, and reduced combined ratio. The first quarter of FY 2025-26 also showed robust performance with a 13.1% global growth and 80% increase in profit after tax year-on-year. The company has received recognition from global rating agencies, including CRISIL, AM Best, and IRDAI, and has been designated as a Domestic Systemically Important Insurer (D-SII) for FY 2024-25.