New India Assurance delivered robust financial results for Q3 FY26, with net profit rising 28.86% to ₹826 crore driven by higher investment income and steady premium growth. According to The Times of India, profit before tax surged 215% year-on-year to ₹824 crore during the December quarter. The insurer's gross written premium increased 10.47% to ₹35,555 crore, with net written premium growing 9.83% to ₹29,326 crore and net earned premium up 9.34% to ₹28,494 crore.
The health and personal accident segment emerged as the standout performer, expanding 16.15% year-on-year to ₹17,127 crore and accounting for 48% of the company's total business. As reported by The Times of India, fire insurance premium grew 15.31% to ₹5,519 crore, while motor insurance saw mild contraction with motor third-party premium down 1.04% and motor own-damage premium lower by 1.34%. Net incurred claims climbed 11.85% to ₹28,387 crore, reflecting higher claims across segments.
The company recognized provisions of approximately ₹2,500 crore towards wage arrears and retirement benefits, significantly impacting underwriting results. According to The Times of India, this resulted in an underwriting loss of ₹7,046 crore compared to ₹4,982 crore a year earlier. The claims ratio stood at 99.62%, while the expense ratio rose to 14.56%, taking the combined ratio to 124.01%. Despite these one-time costs, the company reported stellar profit before tax performance.
Investment income provided significant support, rising 50.99% year-on-year to ₹8,599 crore, supported by gains from the equity portfolio and favorable market conditions. As reported by The Times of India, commission expenses increased 14.18% to ₹2,883 crore and operating expenses jumped 36.07% to ₹4,270 crore, largely due to provisions towards wage arrears and retirement benefits. The solvency ratio closed at 1.81 times, well above the regulatory threshold.
