The New India Assurance Company (NIACL) Q2 24/25 earnings summary

Executive summary

• Profit after tax for H1FY25 increased fivefold year-over-year, driven by a strategic focus on profitable lines and letting go of large, low-premium renewals.

• Operating metrics improved, with lower loss and combined ratios compared to the same period last year.

• Premium growth was muted due to a conscious shift towards profitability over volume.

Financial highlights

• Gross premiums written for H1FY25 stood at ₹21,58,970 lakhs, up from ₹20,98,405 lakhs year-over-year.

• Net premium written was ₹17,74,395 lakhs for H1FY25, compared to ₹17,11,466 lakhs in H1FY24.

• Profit after tax for H1FY25 was ₹30,638 lakhs, a significant increase from ₹7,034 lakhs in H1FY24.

• Net investment income for H1FY25 was ₹2,88,516 lakhs, slightly down from ₹3,00,160 lakhs year-over-year.

• Net catastrophic losses in H1FY25 were ₹24,800 lakhs.

Outlook and guidance

• Profitability trend is expected to improve in coming quarters.

• Focus will remain on segments and channels with better profitability amid high competition in traditional lines.