Gross Domestic Premium
₹42,822 crore
+10.9% YoY
Domestic gross direct premium grew faster than industry, increasing market share to 12.74%.
NEWINDIAASSURANCE
Other
2026-04-??
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.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
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.
Management Guidance
Double-digit overall growth in FY27
Management expects overall gross premium growth to be in double digits, driven by retail segments, especially health.
Management guidance growthSingle-digit motor growth in FY27
Motor portfolio growth will be single digit as the company focuses on profitability over volume.
Management guidance growthMotor portfolio recalibration to improve loss ratios in 1-2 years
The course correction in motor portfolio started in Q2 FY26 and is expected to show results in about a year.
Management guidance otherKey Risks
Motor TP premium revision not happening
Long-awaited third-party premium revision has not occurred, while court awards continue to rise, pressuring loss ratios.
high · management_commentaryIntense competitive pricing in commercial lines
Pricing in property insurance remains highly competitive with discounts increasing, impacting growth and margins.
medium · analyst_questionElevated marine claims
Marine ICR worsened significantly due to large cargo claims and a general average claim, impacting underwriting results.
medium · data_observationNotable Quotes
We are currently undergoing a rigorous churning of a motor book consciously shedding high loss ratio accounts and segments that do not meet our underwriting benchmarks.
The growth will continue to be very bullish. It will be double digit for the industry and so it'll be for New India also.
Health and PA totally contributes around 47.5% of the whole book and going forward also because this is a segment in which awareness is very high among customers.
Frequently Asked Questions
What was New India Assurance's revenue in Q4 FY26?
New India Assurance reported revenue of ₹12,544 Cr in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did New India Assurance management give for FY27?
Double-digit overall growth in FY27: Management expects overall gross premium growth to be in double digits, driven by retail segments, especially health. Single-digit motor growth in FY27: Motor portfolio growth will be single digit as the company focuses on profitability over volume. Motor portfolio recalibration to improve loss ratios in 1-2 years: The course correction in motor portfolio started in Q2 FY26 and is expected to show results in about a year.
What are the key risks for New India Assurance in FY27?
Key risks include Motor TP premium revision not happening — Long-awaited third-party premium revision has not occurred, while court awards continue to rise, pressuring loss ratios.; Intense competitive pricing in commercial lines — Pricing in property insurance remains highly competitive with discounts increasing, impacting growth and margins.; Elevated marine claims — Marine ICR worsened significantly due to large cargo claims and a general average claim, impacting underwriting results..
Did New India Assurance meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full New India Assurance Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.