Key Financial Figures (Standalone) (₹ in lakhs)

Quarterly Performance (Q2 FY27)

  • Gross Premiums Written: 11,08,343
  • Net Premium Written: 8,85,042
  • Premium Earned (Net): 9,63,218
  • Income from Investments (Net): 2,90,721
  • Total Income: 12,53,939
  • Incurred Claims: 12,87,950 (Claims Paid: 9,47,883; Change in Outstanding Claims: 3,40,067)
  • Underwriting Loss: (5,23,735)
  • Operating Loss: (2,33,014)
  • Loss before tax: (1,21,917)
  • Provision for tax: 4,787
  • Net Loss after tax: (1,26,704)
  • Basic and diluted EPS: (₹7.69)

Half-Yearly Performance (H1 FY27)

  • Gross Premiums Written: 24,80,390
  • Net Premium Written: 20,07,969
  • Premium Earned (Net): 19,31,505
  • Income from Investments (Net): 4,46,029
  • Total Income: 23,77,534
  • Incurred Claims: 22,88,956 (Claims Paid: 18,83,304; Change in Outstanding Claims: 4,05,652)
  • Underwriting Loss: (7,59,310)
  • Operating Loss: (3,13,281)
  • Loss before tax: (1,41,056)
  • Provision for tax: 11,325
  • Net Loss after tax: (1,52,381)
  • Basic and diluted EPS: (₹9.25)

Comparative Figures (Q2 FY26)

  • Net Profit after tax: 6,325
  • Basic and diluted EPS: ₹0.38

Balance Sheet Position (as at 30-09-2026)

  • Paid-up equity capital: 82,400
  • Reserves & Surplus: 21,15,976
  • Fair Value Change Account and Revaluation Reserve: 18,70,780
  • Total Assets: Investments (Shareholders' Fund: 24,12,327; Policyholders' Fund: 61,72,962)
  • Solvency Ratio: 1.61 (vs 1.80 in Q1 FY27 and 1.79 in Q2 FY26)

Key Financial Figures (Consolidated) (₹ in lakhs)

Quarterly Performance (Q2 FY27)

  • Net Loss after tax: (1,26,011)
  • Basic and diluted EPS: (₹7.59)

Half-Yearly Performance (H1 FY27)

  • Net Loss after tax: (1,49,340)
  • Basic and diluted EPS: (₹9.06)

Segment-Wise Performance (Standalone) (Q2 FY27)

Underwriting Profit/(Loss)

  • Fire: (1,61,293)
  • Marine: (5,409)
  • Motor: (1,95,338)
  • Health: (1,15,292)
  • Liability: (3,984)
  • Aviation: (29,077)
  • Engineering: (6,794)
  • Crop: (52)
  • Other Miscellaneous: (6,496)

Operating Profit/(Loss)

  • Fire: (1,23,264)
  • Marine: (489)
  • Motor: (19,542)
  • Health: (63,187)
  • Liability: 943
  • Aviation: (27,769)
  • Engineering: (933)
  • Crop: 424
  • Other Miscellaneous: 803

Key Operational Ratios (Standalone)

  • Expenses of Management Ratio: 19.96% (Q2 FY27) vs 16.80% (Q1 FY27) vs 27.89% (Q2 FY26)
  • Incurred Claim Ratio: 133.71% (Q2 FY27) vs 103.38% (Q1 FY27) vs 108.66% (Q2 FY26)
  • Net Retention Ratio: 79.85% (Q2 FY27) vs 81.84% (Q1 FY27) vs 83.56% (Q2 FY26)
  • Combined Ratio: 156.20% (Q2 FY27) vs 121.44% (Q1 FY27) vs 139.77% (Q2 FY26)
  • Gross NPA: 14,628 (0.21%)
  • Net NPA: 0 (0.00%)

Dates of Action

  • Board Meeting Date: 30th October 2026
  • Period Ended: 30th September 2026
  • Auditor's Report Date: 30th October 2026

Parties Involved

  • Regulators: SEBI, IRDAI
  • Auditors: S. Ramanand Aiyar & Co. (FRN:000990N), Chokshi & Chokshi LLP (FRN:101872W/W100045)
  • 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.

Purpose/Rationale

The results disclosure is a regulatory requirement under SEBI LODR Regulations and IRDAI guidelines. The company provided detailed financial performance for the quarter and half-year.

Financial Impact Disclosures

Explicitly Quantified Impacts

  • Provision of ₹71,541 lakhs made for Motor Third-Party claims due to Supreme Court ruling on homemakers' economic value
  • One-time deferred tax expense of ₹6,129 lakhs due to transition to New Tax Regime
  • Tax refund received of ₹78,139 lakhs (including interest of ₹5,963 lakhs) for AY 2022-23

Contingent Liabilities

  • Income Tax demands: ₹83,528 lakhs (under dispute)
  • GST and Service Tax demands: ₹71,614 lakhs (under dispute)
  • Total Contingent Liabilities: ₹71,061 lakhs

Capital Structure Impact

  • Paid-up equity capital remains unchanged at ₹82,400 lakhs
  • No dilution or change in share capital reported

Cash Flow Implications

  • Net cash flow from operating activities: ₹14,577 lakhs (H1 FY27)
  • Net cash flow from investing activities: ₹2,532 lakhs (H1 FY27)
  • Net cash flow from financing activities: (₹2,471 lakhs) (H1 FY27)

Emphasis of Matters from Auditors

Qualified Conclusion Basis

Note 5: Certain balances where process of reconciliation, compilation and confirmation is at different stages and necessary adjustments are yet to be carried out. The overall effect cannot be ascertained pending such confirmation and reconciliation.

Emphasis Matters

1. Non-provisioning for Tax Demands (₹71,061 lakhs) sub-judice with various Appellate Authorities/Hon'ble Bombay High Court

2. Deferred tax expense of ₹6,129 lakhs due to transition to New Tax Regime

3. Strengthening of internal controls and internal audit, especially in data input and validation

4. Change in reporting period of Bangkok and Fiji branches resulting in increased revenue by ₹11,995 lakhs and increased net loss by ₹226 lakhs

5. Pending compliance regarding maintenance of books of account for foreign branches

Other Material Information

Supreme Court Ruling Impact

Pursuant to judgement dated June 11, 2026, in Special Leave Petition (Civil) No. 33915 of 2025 recognizing economic value of unpaid domestic work performed by homemakers for determining compensation under Motor Vehicle Act. The company made additional provision of ₹71,541 lakhs in Motor TP segment. General Insurance Council has filed a review petition on July 10, 2026.

Tax Regime Change

Effective from Tax Year 2026-27, company irrevocably opted for New Tax Regime under Section 200 of Income Tax Act, 2025, changing effective tax rate from 34.944% to 25.168%.

Accumulated Losses and MAT Credit

  • Carry forward accumulated tax losses: ₹2,26,437 lakhs
  • MAT credit entitlement: ₹2,72,100 lakhs (as at March 31, 2026)

Foreign Operations

  • 9 Foreign Branches (including 2 in Run-off) and 6 Foreign Agency offices
  • Financial information includes entities not reviewed by auditors
  • Bangkok and Fiji branches changed reporting period from calendar year to financial year
  • Hong Kong and Manila offices in Run-off status