NIACL

The New India Assurance Company share price & financials

Price
₹202.31
Market cap
₹32.7k Cr
Sector
Financial Services
Calls analysed
3
Latest concall · Q3 FY26 · call held 02 Feb 2026

New India Assura Q3 FY26

Global Gross Written Premium ₹11,680 cr +8%Net Profit after Tax ₹372 cr +5%Net Incurred Claim Ratio 90.77% Combined Ratio 117.98%

What went well

  • Global Gross Written Premium for Q3 FY26 was ₹11,680 crore, up 8.37% YoY.
  • Net Profit after Tax for Q3 FY26 increased to ₹372 crore, compared to ₹353 crore in the corresponding period last year.
  • Net Incurred Claim Ratio for Q3 FY26 improved to 90.77% from 94.49% last year.

What to watch

  • Underwriting loss for Q3 FY26 was ₹1,736 crore.
  • Combined ratio for Q3 FY26 increased to 117.98% from 116.28% last year, primarily due to wage revision provisions.
Read the full call →

What The New India Assurance Company Limited does

The New India Assurance Company Limited is a Government of India-owned general (non-life) insurer that underwrites fire, marine, motor, health & personal accident, crop and other property/casualty risks for retail, MSME and corporate customers. It sells policies through a multi-channel distribution network spanning direct sales, tied agents, brokers, dealers and bancassurance tie-ups, both within India and through operations in overseas markets. The company earns through underwriting premiums on the policies it issues and through investment income on the funds (technical reserves and net worth) it holds against future claims.

Segments

  • Fire
  • Marine
  • Motor OD
  • Motor TP
  • Health & PA
  • Crop
  • Others
Offices in India
1,668
Countries of operation
24
Years in operation
107th year of operation (FY26)
Distribution channels
Direct, Agency, Broker, Dealer, Bancassurance
Domestic credit rating
AAA (CRISIL)
International credit rating
B++ (Good – Positive), AM Best
Founded 1919Headquarters New India Assurance Bldg., 87 M.G. Road, Fort, Mumbai - 400 001, India Company website

Guidance record · Q3 FY26

what the last two calls moved 6 tracked 1 delivered 0 missed 5 open
  • Health Business Audit Coverage delivered said Q4 FY25 Promised: This year also, we have a vision to increase it beyond 50%. Q3 FY26: Management confirmed: 'we have increased inspections from 30% to 50% compulsorily'.
  • Combined Ratio at risk said Q4 FY25 Promised: For a near future, we would target 110 as our combined ratio Q3 FY26: Actual combined ratio hit 117.98% due to wage revision provisions, making the 113% target highly unlikely for FY26.
  • Overall Health ICR on track said Q1 FY26 Promised: by the end of the year we will bring down the overall ICR for the year to a much better number than what it was last year. Q3 FY26: Health ICR improved drastically to 91% for the quarter; management aiming for 98%-100% overall.

All 6 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 1.5%, net profit down 159.5% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue10,786 10,703 11,664 11,719 13,450 +25%12,069 +13%12,544 +8%11,900 +2%
EBITDA140 98 426 189 -74 −153%206 +110%19 −96%-205 −208%
Net profit91 349 356 402 55 −40%380 +9%580 +63%-239 −159%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +3.0% 1Y

₹150₹200Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q3 FY26 — 2 Feb 2026

1Y: ₹192.52 on 10 Sept 2025 → ₹198.39. High ₹231.2 (7 Sept 2026), low ₹117.82 (30 Mar 2026).

How the price took the results

close before → close after

Q3 FY26
−1.3%
2 Feb

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 6.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 0.7%.

Year endingFY23FY24FY25FY26
Revenue₹40.9k Cr₹43.5k Cr₹43.6k Cr₹49.8k Cr
Operating profit₹1.2k Cr₹1.4k Cr₹934 Cr₹340 Cr
Operating margin2.9%3.2%2.1%0.7%
Interest₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net profit₹1.1k Cr₹1.1k Cr₹1.0k Cr₹1.4k Cr
Net margin2.6%2.6%2.4%2.8%
Cash from operations₹-5.9k Cr₹-4.7k Cr₹-3.4k Cr₹-4.5k Cr
Free cash flow₹-5.9k Cr₹-4.7k Cr₹-3.5k Cr₹-4.6k Cr
ROCE-2.0%5.0%4.0%4.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹824 Cr₹824 Cr₹824 Cr₹824 Cr₹824 Cr₹824 Cr
Reserves₹24.7k Cr₹25.0k Cr₹25.0k Cr₹27.5k Cr₹28.0k Cr₹27.7k Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other liabilities₹66.9k Cr₹70.7k Cr₹72.4k Cr₹79.2k Cr₹81.9k Cr₹81.8k Cr
Total liabilities₹92.5k Cr₹96.5k Cr₹98.2k Cr₹107.4k Cr₹110.7k Cr₹110.3k Cr
Fixed assets₹547 Cr₹563 Cr₹564 Cr₹471 Cr₹522 Cr₹520 Cr
Capital work in progress₹16 Cr₹18 Cr₹14 Cr₹20 Cr₹0 Cr₹13 Cr
Investments₹67.0k Cr₹71.3k Cr₹74.4k Cr₹82.1k Cr₹83.7k Cr₹78.2k Cr
Other assets₹24.9k Cr₹24.6k Cr₹23.3k Cr₹24.9k Cr₹26.5k Cr₹31.7k Cr
Total assets₹92.5k Cr₹96.5k Cr₹98.2k Cr₹107.4k Cr₹110.7k Cr₹110.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

The ownership split has held steady since Jun 2025. The shareholder count grew 5% to 1,66,768.

Promoters
85.4%
FIIs
1.0%
DIIs
11.2%
Public
2.4%

Since Jun 2025

  • FIIs +0.01 pp
  • DIIs −0.01 pp
  • Public −0.01 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 85.4%, FIIs 0.7%, DIIs 11.9%, Public 1.9%.Dec '23: Promoters 85.4%, FIIs 0.8%, DIIs 11.7%, Public 2.1%.Mar '24: Promoters 85.4%, FIIs 0.8%, DIIs 11.8%, Public 2.0%.Jun '24: Promoters 85.4%, FIIs 0.8%, DIIs 11.6%, Public 2.1%.Sep '24: Promoters 85.4%, FIIs 0.9%, DIIs 11.3%, Public 2.4%.Dec '24: Promoters 85.4%, FIIs 0.8%, DIIs 11.2%, Public 2.5%.Mar '25: Promoters 85.4%, FIIs 0.9%, DIIs 11.2%, Public 2.5%.Jun '25: Promoters 85.4%, FIIs 1.0%, DIIs 11.2%, Public 2.4%.Sep '25: Promoters 85.4%, FIIs 1.0%, DIIs 11.2%, Public 2.4%.Dec '25: Promoters 85.4%, FIIs 1.0%, DIIs 11.2%, Public 2.4%.Mar '26: Promoters 85.4%, FIIs 1.0%, DIIs 11.2%, Public 2.4%.Jun '26: Promoters 85.4%, FIIs 1.0%, DIIs 11.2%, Public 2.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of The New India Assurance Company Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Government Of India In The Name Of President Of India 85.44%unchanged
Life Insurance Corporation Of India Insurer8.67%unchanged
General Insurance Corporation Of India Insurer1.31%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in NIACL

Filings to Aug 2026

0 new, 5 added, 1 trimmed, 0 sold out — net +0.20 L shares (+3.8%).

Held by funds
₹10 Cr
6 schemes
Biggest holder
Nippon India ETF Nifty Midcap 150
₹4 Cr · 0.1% of that fund
SchemeHoldingLast month
Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund₹4 Cr+0.14 L
Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund₹3 Cr+0.03 L
SBI Nifty Midcap 150 Index Fund SBI Mutual Fund₹1 Cr+0.03 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Midcap150 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 1 trimmed — net +19,525 shares (+3.8%)

Funds are sitting on
+22%
vs est. average cost
Held by funds
₹10 Cr
6 schemes · ≈ 0.03% of the company
Biggest holder
Nippon India ETF Nifty Midcap 150
₹4 Cr · 0.1% of that fund

Shares held by these funds −87%

Aug '23 5.13 L shares Jul '26

All earnings calls (3)

Read the Q3 FY26 call →

Learn to analyse The New India Assurance Company Limited

Guides on how to read this kind of business and the numbers that matter.