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New India Assurance
13-Nov-18   20:22 Hrs IST

The New India Assurance Company has posted strong 56% dip in the net profit to Rs 328.64 crore in the quarter ended September 2018 (Q2FY2019). With the market share of 14.4%, the company continued to be the market leader. Gross Direct Premium was flat at Rs 6505.14 crore in Q2FY2019.

The company has posted operating loss of Rs 199.13 crore in Q2FY2019 as against Rs 395.88 crore in Q2FY2018. Profit after tax stood at Rs 328.64 crore in Q2FY2019 compared with from Rs 748.26 crore in Q2FY2018.

Combined Ratio jumped to 124.7%, while adjusted combined ratio also increased above 100% mark to 104.6% in Q2FY2019. Return on Equity (annualized) dipped to 8.1% in Q2FY2019. The Solvency Margin continued to be healthy at 2.52x end September 2018.

The book value of the company including fair value change account stood at Rs 238.4 per share and excluding fair value change account stood at Rs 100.23 per share end September 2018.

Statement of Revenue Accounts: New India Assurance

 

1809 (3)1709 (3)Var %1809 (6)1709 (6)Var %1803 (12)1703 (12)Var %
1. Premiums earned (Net)5207.764696.561110372.669435.121019724.6017814.7811
2. Profit on sale of Investments (Net)1029.531022.8211972.251856.6163528.282990.3618
4. Others0.000.00-0.000.00-0.000.00-
Total (A) 6237.295719.38912344.9111291.73923252.8820805.1412
1. Claims Incurred (Net)5130.034107.08259666.698259.151716896.4616256.934
2. Commission527.65392.15351007.42775.30301824.011323.1438
3. Operating Expenses related to Insurance Business778.74824.27-61640.631683.10-33529.023782.03-7
4. Premium Deficiency0.000.0000.000.0000.000.000
Total Expenses (B) 6436.435323.502112314.7510717.561522249.4921362.104
Operating Profit/ Loss C=(A -B) -199.14395.88PL30.16574.17-951003.39-556.96LP
APPROPRIATIONS
Transfer to Shareholders' Account -199.13395.88-30.17574.18-951003.39-556.95-
Transfer to Other Reserves 000000

Statement of Profit & Loss Account: New India Assurance

 

1809 (3)1709 (3)Var %1809 (6)1709 (6)Var %1803 (12)1703 (12)Var %
1. Operating profit/(loss) -199.13395.88PL30.17574.18-951003.39-556.95LP
(a) Fire Insurance -149.4115.87PL-233.3751.22PL429.36-346.61LP
(b) Marine Insurance -29.9167.20PL23.9983.07-71110.6587.2827
(c) Health-379.76-449.26--739.53-657.36--1492.88-1313.54-14
(d) Crop-83.5994.50PL-26.95119.42PL85.5661.5039
(e) Motor395.76561.25-29885.39838.7861490.06575.68159
(c) Miscellaneous Insurance 47.77106.32-55120.65139.05-13380.64378.731
2. Income from investments 572.71503.32141096.30918.26191637.211521.818
3. Other income 3.793.23177.0611.42-38103.68218.55-53
Total (A) 377.37902.43-581133.531503.86-252744.281183.41132
4. Provisions (Other than taxation) 1.19-4.26PL1.46-3.09PL0.6315.71-96
5. Other expenses 3.69-0.67PL4.24-1.05PL18.593.84384
Total (B) 4.88-4.93PL5.70-4.14PL19.2219.55-2
Profit before tax 372.49907.36-591127.831508.00-252725.061163.86134
Provision for taxation: 43.85159.10-72164.01260.32-37524.14155.93236
Profit after tax 328.64748.26-56963.821247.68-232200.921007.93118
EPS (Rs) *7.989.0811.7015.1413.366.12
* on current equity of Rs 824 crore of face value of Rs 5 each, Figures in crore, Source: Capitaline Database

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