New India Assurance reports 80% profit growth in Q1

The New India Assurance Company Limited reported profit after tax of Rs.391 crores for Q1 FY26, marking an 80% increase from Rs.217 crores in Q1 FY25.

Gross direct premium income from Indian business rose to Rs.12,299.49 crores, a 15.27% year-on-year growth. Global gross direct premium reached Rs.13,333.58 crores, up 13.11% year-on-year.

The company's net incurred claims ratio stood at 99.76%, while the combined ratio remained stable at 116.16%. The increase in incurred claims was primarily due to aviation, health, and liability claims. Management aims to improve the combined ratio by another 3% for the current year.