Financial Performance Highlights (FY 2025-26)
Consolidated Performance
- Gross Written Premium: ₹47,173.80 crore (8.15% growth from ₹43,618.40 crore)
- Gross Direct Premium: ₹46,023.46 crore (9.6% growth from ₹41,992.21 crore)
- Net Profit After Tax: ₹1,383.59 crore (40% growth from ₹988.07 crore)
- Basic EPS: ₹8.57 (previous year ₹6.29)
- Solvency Ratio: 1.84x (against regulatory requirement of 1.5x)
- Combined Ratio: 122.42% (previous year 116.71%)
Segment Performance
- Health and Personal Accident: 47.57% of portfolio with operating loss of ₹(2,51,604) lakhs
- Motor Insurance: 25.81% of portfolio with operating profit of ₹33,103 lakhs
- Fire Insurance: 14.62% of portfolio with operating profit of ₹503.71 crore
- Marine Insurance: Operating profit of ₹9.38 crore
Investment Performance
- Total Investments: ₹78,166.25 crore (Shareholders: ₹23,378.62 crore; Policyholders: ₹54,787.63 crore)
- Government Securities: ₹31,31,573 lakhs
- Equity Shares: ₹24,66,781 lakhs
- Investment Income: ₹11,111.79 crore
AGM Details and Corporate Actions
- 107th AGM Date: July 27, 2026 via video conference
- Final Dividend: ₹1.50 per equity share (subject to approval)
- Record Date: July 10, 2026
- Key Resolutions: Re-appointment of Chairman Girija Subramanian, appointment of Executive Director S. Sivasankar and Government Nominee Director Hari Har Mishra
- Voting Process: Remote e-voting from July 24-26, 2026 through CDSL
Audit Qualifications and Financial Concerns
Joint auditors S. Ramanand Aiyar & Co. and Chokshi & Chokshi LLP issued qualified opinion due to:
- Unreconciled balances in inter-office accounts, banking transactions, and reinsurer dues
- Investment reconciliation issues affecting 73 scrips (equity, preference shares, bonds/debentures) with book value of ₹232.6 crore
- Unclaimed GST input credit of ₹150.46 crore
- Contingent liabilities of ₹515.7 crore primarily from disputed tax demands
- Overall impact of unreconciled items not ascertainable on financial statements
Operational and Regulatory Highlights
- Market Share: 12.74% domestic market share (increased from 12.56%)
- Employee Wage Revision: Absorbed ₹3,525 crore in employee wage revisions
- Foreign Operations: Operations in 24 countries with Gross Written Premium of ₹3,881.47 crore
- Subsidiaries: Includes Trinidad & Tobago (PAT ₹2,648 lakh), Nigeria operations, and Sierra Leone (run-off since 2003)
- Regulatory Penalties: Received penalties from BSE/NSE for non-compliance with board composition requirements
Key Financial Position Items
- Assets: Investments ₹78,166.25 crore, Cash and Bank Balances ₹19,289.89 crore
- Liabilities: Claims Outstanding ₹40,897.67 crore, Unearned Premium Reserve ₹16,722.17 crore
- Reserves and Surplus: ₹23,802.05 crore
- Employee Benefits: Gratuity ₹310.24 crore, Pension ₹1,003.05 crore, Leave Encashment ₹748.83 crore
Compliance and Governance
- Maintained solvency ratio of 1.84x against required 1.5x
- Compliance with Companies Act 2013, SEBI LODR, IRDAI Regulations, and MCA circulars
- CSR expenditure of ₹1,040 lakhs across multiple initiatives including solar energy for education and healthcare
- Board composition includes Chairman-cum-Managing Director, Executive Director, Government Nominee Directors, and Non-Executive Director
Significant Risks and Challenges
- High combined ratio of 122.42% indicating underwriting challenges
- Investment reconciliation issues and unreconciled balances
- Contingent liabilities from tax disputes and statutory demands
- Geographical diversification with operations in 24 countries exposing to foreign exchange and geopolitical risks
- Ongoing wage revision costs impacting profitability
The company demonstrated strong premium growth and profitability improvement despite operational challenges, maintaining its market leadership position in the general insurance sector while addressing audit qualifications and regulatory compliance requirements.