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Despite losing market share, The New India Assurance continues to lead industry  Despite a fall in its market share this fiscal, the Central government owned and listed The New India Assurance Company Ltd continued to maintain its industry leadership with 13.94 per cent share at the end of last month. As per the data released by the industry lobby body General Insurance Council, The New India had earned a gross premium of Rs 26,092.47 crore as against Rs 25,477.44 earned during the previous year corresponding period. It should also be noted that the other thre...
Despite losing market share, The New India Assurance continues to lead industry
Despite losing market share, The New India Assurance continues to lead industry
Source: IANS
7/01/2023 9:43:59 AM
The New India Assurance Co. Ltd Launches a Specialised Product For The Aviation Industry THE NEW INDIA ASSURANCE CO. LTD LAUNCHES A SPECIALISED PRODUCT FOR THE AVIATION INDUSTRY -- ‘NEW INDIA UNMANNED AIRCRAFT SYSTEM (UAS/UAV/RPAS/DRONE) INSURANCE’ Key features- • Coverage offered to drone owners, operators and manufacturers •  Most comprehensive drone insurance coverage available in India •  Diverse choice of add-on covers designed as per the drone industry’s requirement •  Policy covers phys...
The New India Assurance Co. Ltd Launches a Specialised Product For The Aviation Industry
The New India Assurance Co. Ltd Launches a Specialised Product For The Aviation Industry
Source: PR Agency
23/12/2022 11:28:57 AM
Cross selling, operational synergies exist with merger of 4 PSU general insurers with LIC With the Central government proposing to allow composite insurers, there will be increased cross selling opportunities, operational expense synergies and diversification if Life Insurance Corporation of India (LIC) and the four public sector general insurers are merged, said Jefferies in a report. Industry experts had earlier told IANS that the five companies can be merged into one under the composite insurance regime. According to Jefferies, the global experience in favour of the compo...
Cross selling, operational synergies exist with merger of 4 PSU general insurers with LIC
Cross selling, operational synergies exist with merger of 4 PSU general insurers with LIC
Source: IANS
13/12/2022 1:48:57 PM
New India Assurance Underwriting Performance Improves by 15% Company continues to pursue path of continued growth with profitability New India Assurance, in its half yearly results for FY22 reported improvement in underwriting performance by 15%. The gross written premium (GWP) for the half year ended 30th September 2022 saw a growth of 1.90% compared to the same period last year. It is noteworthy that the growth was achieved despite a substantial quantum of premium in Crop & Government line of business not renewed in the current year as...
New India Assurance Underwriting Performance Improves by 15%
New India Assurance Underwriting Performance Improves by 15%
Source: PR Agency
16/11/2022 5:40:05 PM
Share EY's rejig report, demands PSU non-life insurance unions The employee unions in the public sector general insurance companies have reiterated their demand for a copy of the Ernst & Young (EY) report on the restructuring of the four companies. The companies are: The Oriental Insurance Company Limited, National Insurance Company Limited, The New India Assurance Company Limited and United India Insurance Company Limited. According to Girish Khurana National Convener, Joint Forum of Trade Unions and Associations (JFTU), the unions got only th...
Share EY's rejig report, demands PSU non-life insurance unions
Share EY's rejig report, demands PSU non-life insurance unions
Source: IANS
16/09/2022 5:35:27 PM
Government-owned general insurers looking at asset monetisation Asset monetisation is one of the parts of organisational overhaul that the four government-owned general insurance companies are expected to do, said a senior industry official. The four insurers are: The Oriental Insurance Company Limited, National Insurance Company Limited, The New India Assurance Company Limited and United India Insurance Company Limited. The four companies have hired Ernst & Young (EY) as the consultant for the assignment called "Organisational Efficienci...
Government-owned general insurers looking at asset monetisation
Government-owned general insurers looking at asset monetisation
Source: IANS
30/08/2022 1:45:56 PM
Indian general insurance sector logs 21% premium growth in July Chennai, Aug 11 (IANS) The Indian non-life insurance industry closed last month with 20.82 per cent premium growth as compared to the previous year's corresponding period. According to the Insurance Regulatory and Development Authority of India (IRDAI) the non-life insurance sector had earned a premium of Rs 23,392.46 crore in July 2022 up from Rs 20,157.23 crore. The growth would have been higher but for the negative premium growth posted by Agricultural Insurance Company of I...
Indian general insurance sector logs 21% premium growth in July
Indian general insurance sector logs 21% premium growth in July
Source: IANS
11/08/2022 7:23:07 PM
Wage revision talks in PSU non-life sector to begin Wednesday The General Insurers' (Public Sector) Association of India (GIPSA), the lobby body for the four government owned multiline non-life insurers, will begin the wage revision talks with the unions on Wednesday. The GIPSA has informed the recognised unions representing the different cadres in the four companies -- The Oriental Insurance Company Limited, National Insurance Company Limited, The New India Assurance Company Limited and United India Insurance Company Limited. Of the four, The...
Wage revision talks in PSU non-life sector to begin Wednesday
Wage revision talks in PSU non-life sector to begin Wednesday
Source: IANS
21/06/2022 4:59:17 PM
The New India Assurance Company posts Q4 net loss of Rs 543.35 cr The company reported standalone net loss during the quarter stood at Rs 543.35 crore compared to net profit of Rs 241.39 crore in the previous year quarter.  Net revenue of the company rose three fold by 1052.19 per cent at Rs 6,328.52 crore in January-March quarter of this fiscal as against Rs 549.26 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 3528.26 per cent to Rs 8,246.30 crore from Rs 227.28 crore in year ago period. ...
The New India Assurance Company posts Q4 net loss of Rs 543.35 cr
The New India Assurance Company posts Q4 net loss of Rs 543.35 cr
Source: Dion Global Solutions Ltd
24/05/2022 11:17:40 AM
New India on hiring drive, uncertainty continues for other 3 non-life PSUs Even as the public sector general insurer The New India Assurance Company Ltd is on a massive recruitment drive, suspense continues in the case of the remaining three government owned non-life insurers, said industry officials. The Mumbai based listed New India has decided to hire 300 officers in the generalists category. The number of posts under the economically weaker section (EWS) and unreserved are 30 and 121 respectively. "All the four public sector general insurers are ex...
New India on hiring drive, uncertainty continues for other 3 non-life PSUs
New India on hiring drive, uncertainty continues for other 3 non-life PSUs
Source: IANS
25/08/2021 2:19:03 PM
New India provides for Rs 102 crore for dues from state governments Government-owned premier non-life insurer New India Assurance Company Ltd has provided about Rs 102 crore last fiscal towards doubtful debt for the dues from the governments of Rajasthan, Karnataka, and Arunachal Pradesh. According to New India, an amount of Rs 120.09 crore was withheld/deducted by the Rajasthan government under the Bhamashah Health Insurance Scheme towards rejection of claims under the scheme and related matters. As per a meeting held on August 4, 2020 between New Indi...
New India provides for Rs 102 crore for dues from state governments
New India provides for Rs 102 crore for dues from state governments
Source: IANS
9/06/2021 8:57:48 AM
The New India Assur Q4 net profit jumps 90.61% at Rs 241.39 cr The company reported standalone net profit of Rs 241.39 crore for the quarter ended March 31, 2021 as compared to Rs 126.64 crore in the same period last year, registering a year-on-year growth of 90.61 per cent. Net revenue of the company rose substantially by 55.88 per cent at Rs 549.26 crore in January-March quarter of this fiscal as against Rs 352.36 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 12.49 per cent to Rs 227.28 crore f...
The New India Assur Q4 net profit jumps 90.61% at Rs 241.39 cr
The New India Assur Q4 net profit jumps 90.61% at Rs 241.39 cr
Source: Dion Global Solutions Ltd
8/06/2021 2:31:00 PM
New India Assurance posts Rs 1,604.69 cr net profit  The Mumbai-based New India Assurance Company Ltd on Monday said it closed last fiscal with a net profit of Rs 1,604.69 crore. In a regulatory filing, New India Assurance said that last fiscal, it had earned net premium of about Rs 26,965.84 crore and a net profit of Rs 1,604.69 crore. During FY20, the insurer had earned a net premium of Rs 24,487.05 crore and an after tax profit of Rs 1,417.76 crore. The gross written premium (GWP) for the year under review was at Rs 33,046 cro...
New India Assurance posts Rs 1,604.69 cr net profit
New India Assurance posts Rs 1,604.69 cr net profit
Source: IANS
8/06/2021 8:38:45 AM
MTF Stock Pick Buy The New India Assurance company Ltd For Target Rs. 200 - HDFC Securities MTF Stock Pick  Buy The New India Assurance company Ltd For Target Rs. 200 - HDFC Securities  NIACL has been consistently falling in the last few weeks after testing a high of 197 in Februay 2021. The stock has found support around the 142 levels which also roughly coincides with a previous intermediate high. This indicates that the change of polarity principle is at work as prior resistances are now acting as supports. Today, the stock has broken o...
MTF Stock Pick Buy The New India Assurance company Ltd For Target Rs. 200 - HDFC Securities
MTF Stock Pick Buy The New India Assurance company Ltd For Target Rs. 200 - HDFC Securities
Source: HDFC Securities Ltd
19/05/2021 1:12:47 PM