New India Assurance Company Ltd Share Price – NSE  / BSE

Insurance, Small Cap

Total income rose 5.71% year on year (YoY) to Rs 9,865.29 crore in the quarter ended 30 June 2024.

Consolidated profit before tax stood at Rs 272.09 crore in June 2024 quarter, down 14.38% from Rs 317.80 crore in same quarter last year.

For the quarter ended 30 June 2024, the gross written premium was at Rs 1,188 crore, up 3.43% on YoY basis.

Net written premium was at Rs 9,630.09 crore in first quarter of FY25, registering a growth of 4.08% compared to same period a year ago.

Commenting on the Q1 result, Girija Subramanian, CMD said: “The gross written premium growth was muted at 3.74% as the company continued to rationalise its portfolio mix, in favour of lines where profitability is better. The incurred claim ratio was impacted by elevated loss ratio in the Motor segment, especially in the Motor third party segment where no premium increase has been notified yet.

Health segment loss ratio was adversely impacted by the government business segment which saw higher incurred claims, primarily due to seasonal factors, and this segment should see improved performance going ahead. Other segments performed well. The net worth of the company has increased from 44,704 Cr in March 2024 to 47,703 Cr in June 2024. Going forward, the company will be focusing on the retail segment and better performance can be expected in the coming quarters.”

The New India Assurance Company is the largest non-life insurance company in India headquartered at Mumbai and operates in 28 countries.

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Net profit of New India Assurance Company declined 8.04% to Rs 239.31 crore in the quarter ended June 2024 as against Rs 260.23 crore during the previous quarter ended June 2023. Sales rose 7.22% to Rs 8547.37 crore in the quarter ended June 2024 as against Rs 7971.44 crore during the previous quarter ended June 2023.

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New India Assurance Company will hold a meeting of the Board of Directors of the Company on 8 August 2024

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Home First Finance Company India Ltd, General Insurance Corporation of India, Mankind Pharma Ltd, Sobha Ltd are among the other stocks to see a surge in volumes on NSE today, 26 July 2024.

New India Assurance Company Ltd clocked volume of 283.02 lakh shares by 14:14 IST on NSE, a 8.08 times surge over two-week average daily volume of 35.03 lakh shares. The stock gained 18.72% to Rs.306.83. Volumes stood at 23.53 lakh shares in the last session.

Home First Finance Company India Ltd witnessed volume of 17.45 lakh shares by 14:14 IST on NSE, a 7.59 times surge over two-week average daily volume of 2.30 lakh shares. The stock increased 2.92% to Rs.1,060.20. Volumes stood at 1.24 lakh shares in the last session.

General Insurance Corporation of India saw volume of 174.47 lakh shares by 14:14 IST on NSE, a 7.42 fold spurt over two-week average daily volume of 23.53 lakh shares. The stock increased 16.57% to Rs.433.80. Volumes stood at 12.37 lakh shares in the last session.

Mankind Pharma Ltd clocked volume of 27.4 lakh shares by 14:14 IST on NSE, a 6.83 times surge over two-week average daily volume of 4.01 lakh shares. The stock lost 3.89% to Rs.2,061.05. Volumes stood at 3.39 lakh shares in the last session.

Sobha Ltd registered volume of 11.82 lakh shares by 14:14 IST on NSE, a 6.29 fold spurt over two-week average daily volume of 1.88 lakh shares. The stock slipped 3.15% to Rs.1,803.85. Volumes stood at 98546 shares in the last session.

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