The New India Assurance Company Limited — Board Meeting, 27-01-2025: Outcome of Board Meeting

The New India Assurance Company has held a board meeting where the board approved the unaudited financial results for the quarter and nine months ended December 31, 2024. The results reflect a profit after tax of ₹641 crore. Gross written premiums grew by 2.4%, though the company chose not to renew some inadequately priced accounts. The incurred claim ratio improved from 98.07% to 97.38%, and the combined ratio dropped from 120.34% to 119.08%. Additionally, the solvency ratio increased from 1.81x to 1.90x. The company successfully renewed a significant government health scheme, effective February 2025, with a 20% increase in premiums for covered families.