Summary of Key Information:
Reporting Period (Quarter/Year): Quarter ended June 30, 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting and Unaudited Financial Results
Audit Opinion:
Qualified Conclusion - The joint central statutory auditors (S. Ramanand Aiyar & Co. and Chokshi & Chokshi LLP) issued a qualified review report due to unreconciled balances where the process of reconciliation, compilation and confirmation is at different stages and necessary adjustments are yet to be carried out.
Key Financial Highlights [in ₹ lakhs]:
Standalone Results:
Revenue from Operations: Not explicitly stated in standard format
Total Income: ₹11,23,595 lakhs (Q1 FY27) vs ₹11,02,569 lakhs (Q1 FY26) - +1.9% YoY
EBITDA: Not specified in document
Net Profit: Net loss of ₹25,677 lakhs (Q1 FY27) vs Net profit of ₹39,101 lakhs (Q1 FY26)
EPS: Negative ₹1.56 (Q1 FY27) vs Positive ₹2.37 (Q1 FY26)
Other Equity: Not specified in standalone results
Cash and Cash Equivalents: Not specified
Debt: Not specified
Consolidated Results:
Revenue from Operations: Not explicitly stated in standard format
Total Income: ₹11,27,945 lakhs (Q1 FY27)
EBITDA: Not specified
Net Profit: Net loss of ₹24,394 lakhs (Q1 FY27) after accounting for minority interest of ₹350 lakhs and share of profit in associates of ₹479 lakhs
EPS: Negative ₹1.47 (Q1 FY27)
Other Equity: Not specified
Cash and Cash Equivalents: Not specified
Debt: Not specified
Key Operational Metrics (Standalone):
Gross Premiums Written: ₹13,72,047 lakhs (Q1 FY27) vs ₹13,33,358 lakhs (Q1 FY26) - +2.9% YoY
Net Premium Written: ₹11,22,927 lakhs (Q1 FY27) vs ₹10,83,990 lakhs (Q1 FY26)
Premium Earned (Net): ₹9,68,287 lakhs (Q1 FY27) vs ₹9,36,942 lakhs (Q1 FY26)
Income from Investments (Net): ₹1,55,308 lakhs (Q1 FY27) vs ₹1,65,627 lakhs (Q1 FY26)
Underwriting Loss: ₹2,35,575 lakhs (Q1 FY27) vs ₹1,75,559 lakhs (Q1 FY26)
Combined Ratio: 121.44% (Q1 FY27) vs 116.16% (Q1 FY26)
Solvency Ratio: 1.80x (June 30, 2026)
Segment-wise Performance [in ₹ lakhs]:
The company reported segment results for Fire, Marine, Motor, Health (including Personal Accident), Liability, Aviation, Engineering, Crop, and Other Miscellaneous segments.
Key segment highlights:
- Health segment showed underwriting loss of ₹1,30,870 lakhs (Q1 FY27)
- Liability segment showed underwriting loss of ₹1,33,621 lakhs (Q1 FY27)
- Motor segment showed underwriting loss of ₹2,759 lakhs (Q1 FY27)
- Fire segment showed underwriting profit of ₹27,782 lakhs (Q1 FY27)
Corporate Actions:
No dividend declarations, share splits, bonus issues, buybacks, or capital raising activities announced during the quarter.
Other Significant Information:
- The company changed its reporting period for Bangkok and Fiji branches from calendar year to financial year, increasing revenue by ₹6,716 lakhs and net loss by ₹852 lakhs in current quarter
- Hong Kong and Manila offices are in Run-off status
- The company has applied for and received one-year forbearance from IRDAI for Ind AS compliance, now scheduled for April 1, 2027
- The company opted for the New Tax Regime under Section 200 of Income Tax Act, 2025, resulting in one-time deferred tax expense of ₹5,921 lakhs
- The company has MAT credit entitlement of ₹2,72,100 lakhs accumulated up to March 31, 2026
- Gross NPA stood at ₹14,628 lakhs (0.21%) as of June 30, 2026
Entities included in consolidation:
Subsidiaries: The New India Assurance Co. (T & T) Ltd., The New India Assurance Co. (S.L.) Ltd., Prestige Assurance Plc.
Associates: India International Insurance Pte. Ltd., Health Insurance TPA of India Ltd.
Exceptional items or one-time adjustments:
One-time reduction in net deferred tax asset of ₹5,921 lakhs due to change to New Tax Regime
Change in accounting policy:
No change in accounting policy affecting comparability disclosed
Forward-looking guidance or management outlook:
Management commentary indicates challenging quarter for Indian general insurance industry with property premium decline of 27.9%. The company plans to change business mix in favor of retail and MSME with focus on newer product lines where competitive intensity is lower.