If we look at aggregates of ex-financials, be it Nifty50, Next150, Next300 or Top 500 market cap stocks, revenue and operating profit de-grew on YoY basis, say experts.
Its total income rose to Rs 6,994.60 crore during July-September quarter as against Rs 6,237.29 crore in the year-ago period, the company said in a regulatory filing.
New India Assurance has completed 100 years of operations.
Standalone health insurers posted 41.6% growth in Q1, growing faster than the industry.
Investec has initiated coverage on ICICI Lombard with buy & New India Assurance with hold.
A memorandum of understanding (MoU) was signed with The New India Assurance Co and two MSMEs were issued insurance policies, SIDBI said in a statement today.
The company received bids for 14.31 crore shares against an issue size of 12.87 crore shares, data available with the NSE as of 5:15 pm showed.
An 18-20 percent sustainable growth for many years is achievable till India reaches global standards of insurance penetration and density, said G Srinivasan, CMD, New India Assurance.
"At present, we have 1,339 such micro-offices across the country, besides 1,000-odd full-fledged offices. We want to open 200 micro-offices every year to boost business," C Narambunathan, GM-cum-financial advisor, told reporters here today.
GEPL Capital has come out with its report on New India Assurance. The research firm has recommended to "Subscribe " the IPO in its research report as on October 30, 2017.
The IPO comprises sale of 9.6 crore shares by the government, besides fresh issue of 2.4 crore shares. Thus a total of 12 crore shares of the non-life insurer would be sold through the share sale offer, constituting around 14.56 per cent of the company's post issue share capital.
A look at top cues from the domestic and international markets that could have a bearing on D-Street today.
New India Assurance is the largest among the four PSU general insurance companies that are wholly-owned by the government.
The Securities and Exchange Board of India (SEBI) and the government are looking at various options to work around the challenges the Centres faces to offload its stakes in public sector companies to meet the August 2017, reported Business Standard.
State-owned insurer New India Assurance has bagged a Rs 500-crore combined cover from Reliance Industries for its onshore and offshore assets for the next financial year, according to industry sources.
According to data on general insurance claims by the Insurance Brokers Association of India (IBAI), only around 3 percent health claims have been pending for more than one year.
In his Budget speech this year, Finance Minister Arun Jaitley had announced that the government is keen on listing the public sector general companies. As planned, the insurance companies have kick-started their preparations for a Dalal Street debut.
New India Assurance will continue to outperform the general insurance industry, says G Srinivasan, CMD of the company.
Government-sponsored insurance schemes -- Rashtriya Swasthya Bima Yojana (RSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (term insurance) and Pradhan Mantri Suraksha Bima Yojana (personal accident insurance) -- have led to heavy losses for the insurance companies.
Health insurance policies with a cover of Rs 1 crore is becoming the new norm in the industry. With health inflation on the rise and average out-of-pocket medical expenses on the rise, insurers are increasing their cover sizes.
Two to be listed in FY18, others insurers' IPO to be done in subsequent financial years
New India Assurance has posted profit after tax of Rs 455 crore for the first nine months ended December 31, 2016, showing a drop of 38 percent over the same period previous year.
Allowing general insurance companies to get listed when none of the private players are listed could raise questions in certain quarters
State-owned general insurer New India Assurance which is the largest general insurer has received a cabinet nod for listing on the exchanges. G Srinivasan, CMD, New India Assurance talks to M Saraswathy about their plans.
The Cabinet has approved the listing of the four public sector general insurance companies as well as the sole state-owned reinsurance company, General Insurance Corporation of India (GIC Re). The companies will begin the process of listing in the next few weeks and the final listing is expected to happen within the next six to eight months.