New India Assurance Company Ltd Share Price – NSE  / BSE

Insurance, Small Cap

Net profit of New India Assurance Company declined 51.62% to Rs 349.05 crore in the quarter ended December 2024 as against Rs 721.50 crore during the previous quarter ended December 2023. Sales rose 0.93% to Rs 9070.33 crore in the quarter ended December 2024 as against Rs 8986.77 crore during the previous quarter ended December 2023.

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New India Assurance Company will hold a meeting of the Board of Directors of the Company on 27 January 2025.

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AM Best has assigned the India National Scale Rating (NSR) of aaa.IN (Exceptional) and has affirmed the Financial Strength Rating of B++(Good) and the Long-Term Issuer Credit Rating of bbb+ (Good) to The New India Assurance Company . The outlook of these credit ratings is Stable.

The ratings reflect the Company's balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, favourable business profile and marginal enterprise risk management (ERM).

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The New India Assurance Co at its meeting held today i.e Wednesday, 11 December, 2024 has approved investment of Rs.5 crore being Company's contribution as non-life Insurer in the equity share capital of Bima Sugam India Federation.

The Board has also approved an aggregate investment (including the above) not exceeding 10% of the paid up equity share capital of Bima Sugam India Federation subject to commensurate increase in the authorized share capital of Bima Sugam India Federation (Bima Sugam).

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