New india assurance co., India’s largest non-life insurer clocked 6.5% growth in first quarter of the current year. As the country was under lock-downWord & vehicle movement was negligible in April-June quarter, the losses in motor department came down considerably. Incurred claim ratio in motor department improved form 92% to 66% only Marine & health portfolio also saw underwriting profit in the given period.
In line with the incurred claim ratio, the combined ratio also improved from 116% to 102 %. However the investment income came down from 986 Cr to 599 Cr only.