New India slips into red with 1,267 cr loss in Q2
New India Assurance Company has revealed a concerning net loss of ₹1,267 crore for the September quarter, sharply contrasting with last year's profit of ₹63 crore. The sharp downturn is attributed to underwriting losses in key segments such as property, motor, and health insurance. Despite this, gross written premiums showed a modest increase of 5.14% year-on-year,...
Key Takeaways
- New India Assurance Company has revealed a concerning net loss of ₹1,267 crore for the September quarter, sharply contrasting with last year's profit of ₹63 crore.
- The sharp downturn is attributed to underwriting losses in key segments such as property, motor, and health insurance.
- Despite this, gross written premiums showed a modest increase of 5.14% year-on-year, totaling ₹11,083 crore.
New India Assurance Company has revealed a concerning net loss of ₹1,267 crore for the September quarter, sharply contrasting with last year's profit of ₹63 crore. The sharp downturn is attributed to underwriting losses in key segments such as property, motor, and health insurance. Despite this, gross written premiums showed a modest increase of 5.14% year-on-year, totaling ₹11,083 crore.
Original Publisher Attribution
This summary was curated from Economic Times.