New India Assurance Result Second Quarter 2018

Published On: November 12th 2018 at 4:50 PM

new india assurance company limited

Performance Overview for Half Year FY 2018-19 compared with Half Year FY 2017-18
➢ Market share of 14.4% and continues to be the market leader
➢ Global Gross written premium of Rs. 13466 crores as against Rs. 12823 crores up by
5.01%
➢ Profit after tax Rs.963.82 crores as against Rs.1247.68 crores in Sep 2017
➢ Combined Ratio 117.78%
➢ Adjusted combined ratio 99.47%
➢ Return on Equity (annualized) at 12.16%
➢ Solvency Margin continued to be healthy at 2.52.

Commenting on the performance, Mr. Hemant G Rokade, Chairman of the Board Meeting said,

The performance was adversely impacted due to catastrophic losses in India and abroad. The loss ratio under major line of business i.e. Health has shown improvement in H1F19 The Company continues to be the Market Leader. The Indian General Insurance Industry is poised for a great expansion in the coming years and New India as the market leader would leverage this for continued better performance.

About New India Assurance Company Limited:

The New India Assurance Company Ltd is the largest Non-Life Insurance Company headquartered at Mumbai, India and today operates in 28 countries.

The Company has been leading the market in premium, reserves, net worth, network and profit for many years.