NIA December profit rises to Rs 61.4 bn from loss of Rs 236.9 mn y-o-y

Company expects industry-wide boost from Budget, as claims ratio improves in main segments

State-owned general insurer New India Assurance Company registered a profit of Rs 61.73 billion for the third-quarter ending December 31, 2018, as against a loss of Rs 236.9 million during the same period of the previous fiscal year. 

Gross Written Premiums (GWP) rose by 23 per cent, from Rs 52.13 billion in Q3 FY17 to Rs 63.85 billion in Q3 FY2018. GWP rose by 17 per cent, from Rs 164.16 billion for the nine-months ending Q3 FY17 to Rs 192.08 billion up to Q3 FY17. 

G Srinivsan, chairman and managing director of New India Assurance, said that they were able to bring