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Motor TP premium revision not happening
View Risks →New India Assurance Company Ltd — Q4 FY26
New India Assurance reported a strong Q4 FY26 with PAT of ₹558 crore, up 61% YoY, and full-year PAT of ₹1,384 crore, up 40% YoY.
bullish
medium
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New India Assurance reported a strong Q4 FY26 with PAT of ₹558 crore, up 61% YoY, and full-year PAT of ₹1,384 crore, up 40% YoY. Domestic gross direct premium grew 10.9% to ₹42,822 crore, outpacing industry growth of 9.3%, and market share improved to 12.74%. The health segment saw improved loss ratios, while motor portfolio recalibration is underway to shed unprofitable accounts. Management guided for double-digit overall growth in FY27, with single-digit motor growth and focus on retail health. Key risks include persistent competitive pricing pressure and rising motor third-party claims without premium revision.
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Gross Domestic Premium
₹42,822 crore
+10.9% YoY
Domestic gross direct premium grew faster than industry, increasing market share to 12.74%.
Market Share
12.74%
+18 bps YoY
Market share increased from 12.56% to 12.74% during FY26.
Health Segment ICR
99.05%
-193 bps YoY
Health incurred claim ratio improved from 101.3% to 99.05% through better monitoring.
Combined Ratio (ex-wage revision)
116.67%
+133 bps YoY
Adjusted combined ratio worsened slightly due to higher claims in motor and aviation.
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Guidance and risk preview
Management expects overall gross premium growth to be in double digits, driven by retail segments, especially health.
Long-awaited third-party premium revision has not occurred, while court awards continue to rise, pressuring loss ratios.
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