Financial Soundness of New India Assurance from 2017-18 to 2025-26: A Longitudinal CARAMEL Assessment

Author(s)	Ms. Pragati Kumari, Dr. Pankaj Kumar Mahato
Country	India
Abstract	This article examines the financial soundness of The New India Assurance Company Limited over nine financial years, from 2017–18 to 2025–26. It uses a company-level CARAMEL profile to follow capital, asset quality, reinsurance and reserves, operating scale, earnings, and liquidity. Premium expanded at about 7.45% per year, while the solvency ratio fell from 2.58 to 1.84 times and remained above the 1.50-times reference disclosed by the company. Underwriting pressure continued, and the calculated combined ratio exceeded 100% each year, reaching 123.09% in 2025–26. Return on equity also ended below its opening value. The asset-quality estimate, however, changes substantially with the way investment categories are classified.
Keywords	Caramel, General Insurance, New India Assurance, Financial Soundness, Underwriting, Reserves, Liquidity, India,
Field	Mathematics > Economy / Commerce
Published In	Volume 8, Issue 6, November-December 2026
Published On	2026-11-02
DOI	https://doi.org/10.36948/ijfmr.2026.v08i06.91215

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