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New India Assurance reported a 31 per cent increase in net profit at ₹1,431 crore in the financial year ended March 31, 2015 as against ₹1,089 crore in the previous year.
Global business (premium) of India’s largest non-life insurer grew 12 per cent at ₹16,050 crore in FY15. Of this, premium from India was at ₹13,209 crore, while the balance came from overseas.
In a statement, the company said the Net Incurred Claims Ratio increased only marginally from 83.52 per cent in 2013-14 to 84.02 per cent in 2014-15, despite large claims in Jammu & Kashmir floods and Hudhud Cyclone.
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