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India's largest state-owned general insurer, selling motor, health, fire and marine insurance nationwide.
India's largest state-owned general insurer, selling motor, health, fire and marine insurance nationwide.
Earns premiums on motor, health and fire cover and invests the float, the premiums held before claims are paid, so underwriting results and investment income both matter. The Government of India owns most of it, and it also writes business abroad through overseas branches and subsidiaries. It is one of four state-owned general insurers.
In one line: India's State Farm, but government-owned.
Moat: narrow (scale, brand, distribution). Large agent network and government backing give scale, but pricing is competitive and regulated.
Headquarters: Mumbai, India · Founded: 1919 · Employees: 10,405
Size New India Assurance (NIACL.NS) is an India Financials company (Multi-Line Insurance) with a market value of $2.74B, the 309th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹157.33 on 6 Nov 2026.
Performance Over six months the shares fell 4.6%, against +3.0% for the median peer and 0.0% for the India market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 9.0% over the last twelve months (peer median +11.0%); the operating margin is -1.1% (peer median 11.1%).
Valuation It trades at 0.62× book value against a peer median of 1.01× (5th cheapest of 21).
Price implies The share price implies a return on equity of about 14.0%; New India Assurance delivers -1.3%, so the price asks more than the business earns today.
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹509B | ₹507B | ₹426B | ₹437B | ₹410B |
| Revenue growth | — | +19% | -2% | +7% | — |
| Net income | -₹5.36B | ₹14.1B | ₹10.4B | ₹11.2B | ₹10.5B |
| Free cash flow | n/a | ₹5.52B | ₹13.4B | -₹50.7B | -₹60.2B |
| Capital expenditure | n/a | ₹800M | ₹1.16B | ₹696M | ₹978M |
| Total debt | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| New India Assurance NIACL.NS | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% |
| ICICI Lombard General Insurance ICICIGI.NS | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% |
| Go Digit General Insurance GODIGIT.NS | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% |
| Star Health & Allied Insurance STARHEALTH.NS | $3.52B | +9% | +21% | 12% | 3.19× | 47.7% |
| Niva Bupa Health Insurance NIVABUPA.NS | $1.49B | -5% | +58% | 14% | 3.66× | 33.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NIACL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.2% | +3.3% | 5th lowest of 21 |
| 6-month return | -4.6% | +3.0% | 9th lowest of 21 |
| Return on equity | -1.2% | 10.5% | 2nd lowest of 21 |
| Price / book | 0.62× | 1.01× | 5th cheapest of 21 |
| ROE the price implies | 14.0% | 8.0% | 5th most demanding of 20 |
| ROE delivered | -1.3% | 9.2% | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| New India Assurance NIACL.NS | India | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% | -1.3% |
| Skyward Specialty Insurance SKWD | United States | $2.68B | +29% | +38% | 17% | 2.11× | 10.2% | 17.3% |
| Vaudoise Assurances VAHN.SW | Switzerland | $2.66B | -8% | +14% | 6% | 0.78× | n/a | 5.9% |
| Lemonade LMND | United States | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% | -27.0% |
| F&G Annuities & Life FG | United States | $3.06B | -17% | +14% | 9% | 0.66× | 8.4% | 9.2% |
| Go Digit General Insurance GODIGIT.NS | India | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% | n/a |
| Pelagos Insurance Capital PLGO | United States | $2.29B | +33% | -4% | 18% | 1.03× | 6.5% | 17.6% |
| NIB NHF.AX | Australia | $2.29B | +4% | +5% | 17% | 2.90× | 13.2% | 16.6% |
| Genworth Financial GNW | United States | $3.29B | -5% | -1% | 2% | 0.38× | 5.3% | 2.3% |
| Seoul Guarantee Insurance 031210.KS | South Korea | $2.26B | -8% | +14% | 6% | 0.61× | 4.5% | 6.0% |
| Hamilton Insurance HG | United States | $3.64B | +20% | +20% | 19% | 1.24× | 8.0% | 19.0% |
| Zhongan Online P&C Insurance 6060.HK | Hong Kong | $2.06B | -19% | +16% | 8% | 0.54× | 8.0% | 8.2% |
| Alm. Brand A/S ALMB.CO | Denmark | $3.70B | +16% | +3% | 9% | 2.19× | 7.3% | 8.8% |
| Korean Reinsurance 003690.KS | South Korea | $1.74B | +8% | -2% | 14% | 0.73× | 4.8% | 14.4% |
| Trupanion TRUP | United States | $1.61B | +49% | +12% | 6% | 3.94× | 35.3% | 6.1% |
| CNO Financial CNO | United States | $5.09B | +20% | +2% | 17% | 2.19× | 16.0% | 16.9% |
| Linea Directa Aseguradora LDA.MC | Spain | $1.48B | +3% | +10% | 23% | 3.07× | 11.7% | 23.3% |
| White Mountains Insurance WTM | United States | $5.35B | +5% | +21% | 22% | 0.99× | 6.3% | 21.9% |
| Sunshine Insurance 6963.HK | Hong Kong | $5.35B | 0% | +8% | 14% | 0.66× | 5.4% | 13.7% |
| Wuestenrot & Wuerttembergische WUW.DE | Germany | $1.39B | -6% | +4% | 3% | 0.25× | 3.6% | 2.7% |
| FWD 1828.HK | Hong Kong | $5.54B | +7% | +24% | 4% | 0.92× | 7.3% | 4.1% |