Financials

We are rated B++ Stable FSR Rating and BBB+ Stable ICR Outlook by AM BEST Company. We have been rated AAA/Stable by CRISIL since 2014, indicating that the Company has the highest degree of Financial Strength to honour its Policyholders' obligations.
B++
Stable

AM Best

BBB+
Stable

AM Best

AAA
Stable

CRISIL

Additionally, AM Best has assigned the India National Scale Rating (NSR) of aaa.IN (Exceptional) to New India.

aaa.IN
Exceptional

AM Best

FINANCIAL RESULT FOR THE PERIOD ENDING DECEMBER 31, 2023

Dear All,

The Board of directors of the company have approved and adopted the financial results for the period ending 31st Dec 2023. Despite catastrophe losses of 658 Cr for the nine-month period the Company reported profit after tax of Rs. 775 Cr for the period.

The Gross Written Premium increased by 15.4% compared to the same quarter last year and 10.5% during the nine-month period. The company continues to have a very strong balance sheet with net worth increasing to Rs. 44,690 Cr in comparison to Rs. 37,957 Cr in March 2023. The solvency ratio remains healthy at 1.72x and I am confident that the ratio will improve in the ensuing quarters.

The market environment continues to be challenging and I would request all of you to leave no stone unturned in the final quarter of this Financial Year to achieve our objective of profitable growth.

- Mrs NEERJA KAPUR,
Chairman cum Managing Director.

The New India Assurance Company is the largest non-life insurer in India. The financial strength of the Company is reflected from the following figures:

Year

Gross Premium
(in India)

(INR in crores)

Gross Premium
(Outside India)

(INR in crores)

Net Premium (Global)

(INR in crores)

Net Profit (Global)

(INR in crores)

Total Assets (Global)

(INR in crores)

Net Worth (Global)

(INR in crores)

2021-202232,5732,94229,76016494,53018,232
2020-202128,5483,02526,9661,60590,18917,786
2019-202026,81329,0124,4871,41774,60915,725
2018-201923,9102,69722,12057979,50715,761
2017-201822,7183,20220,9562,20076,62615,412
2016-201719,1143,16418,5901,00769,17211,023
2015-201615,1493,22115,91182862,8809,821
2014-201513,2092,84013,9381,43161,7199,722
2013-201411,5402,76312,0781,08853,0108,621
2012-201310,0372,46610,27484345,3757,737
2011-20128,5421,5318,77117942,1627,057
2010-20117,0971,1287,192-42139,6216,890
2009-20106,0421,0566,00240436,8327,430
2008-20095,5089465,50022426,9317,328
2007-20085,2768744,9141,40131,9446,972
2006-20075,0179194,7511,45927,4445,972
2005-20064,7918844,34271627,0254,706
2004-20054,2108923,89540219,8274,161
2003-20044,0458753,63459017,5103,735
2002-20033,9218913,51625512,9843,404
2001-20023,5126853,06814212,2733,189
2000-20013,0414512,6711738,2923,067
1999-20002,9793272,4772877,6642,859
1998-19992,7292882,1863756,7272,524
1997-19982,4332541,9454706,0711,462
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