| Particulars | FY 2025 | FY 2026 | Q4 FY25 | Q4 FY26 | |
| Gross Direct Premium with 1/n (Cr) | 8,472 | 9,846 | 1,981 | 2,402 | |
| Gross Written Premium with 1/n (Cr) | 10,282 | 11,294 | 2,576 | 2,736 | |
| Net Earned Premium | 8,046 | 8,414 | 2,247 | 2,301 | |
| Net retention Ratio (%) | 80.1 | 73.7 | 78.9 | 77.2 | |
| Loss Ratio (%) | 72.8 | 72.9 | 76.5 | 75.2 | |
| Solvency Ratio | 2.24 | 2.42 | 2.24 | 2.42 | |
| Ind AS | Profit before Tax (only with DAC) | 689 | 1,021 | 142 | 239 |
| Profit after Tax (only with DAC)# | 516 | 764 | 106 | 179 | |
| Net-worth (Equity) | 7,099 | 7,610 | 7,099 | 7,610 | |
| Return on Average Equity (%)^ | 15.7 | 17.7 | 2.7^^ | 4.0^^ | |
| Combined Ratio on NEP with DAC (%)* | 106.9 | 105.7 | 106.8 | 105.8 | |
| Combined Ratio (%)** | 104.0 | 103.0 | 101.3 | 99.1 | |
| IGAAP | Profit before Tax | 425 | 632 | 116 | 173 |
| Profit after Tax # | 425 | 544 | 116 | 149 | |
| Net-worth (Equity) | 4,033 | 4,586 | 4,033 | 4,586 | |
| Return on Average Equity (%)^ | 13.0 | 12.6 | 2.9^^ | 3.3^^ | |
| Combined Ratio (%)*** | 109.3 | 110.7 | 111.3 | 111.6 | |
| Combined Ratio without 1/n basis (%) | 108.6 | 108.9 | 109.7 | 109.4 | |
| * | IndAS Combined Ratio on NEP with DAC: (Claims incurred net [excluding reserve discounting] +Commission Net including deferred acquisition cost + Operating Expenses)/Net Earned Premium) |
| ** | IndAS Combined Ratio: (Claims incurred net [including reserve discounting] +Commission Net including deferred acquisition cost + Operating Expenses)/Net Earned Premium) |
| *** | IGAAP Combined Ratio: ((Claims incurred net / Net Earner Premium) + (Commission Net + Operating Expenses)/Net Written Premium) |
| ^ | Return on Average Equity (Ind AS) is calculated as Profit before tax as per IGAAP adjusted for DAC and IND AS effective tax rate divided by (Opening Net-worth [IGAAP Equity] + Closing Net-worth [IGAAP Equity])/2 |
| ^ | Return on Average Equity (IGAAP) is calculated as Profit after tax divided by (Opening Net-worth [IGAAP Equity] + Closing Net-worth [IGAAP Equity])/2 |
| # | IndAS tax rate at 25.2% and IGAAP tax rate at 13.8% |
| ^^ | Not annualised |
|
| Net worth (IGAAP): Paid up share capital + Securities Premium+ Accumulated losses/gains as per IGAAP |
|
| Net worth (Ind AS): Paid up share capital + Securities Premium+ Accumulated losses/gains as per IND AS+ ESOP Reserves |
IndAS:
IRDAI has mandated that all insurers adopt Indian Accounting Standards (IndAS) beginning 1 April 2026. In preparation for this transition, our company has prepared and got audited IndAS financials as special purpose financial statements for the financial year 2025-26.
Profitability (IndAS):
· Profit before tax (only with DAC) for the Q4 2026 stood at ₹239 cr, compared to ₹ 142 cr in Q4 2025, grew by 68.3%.
· Profit after tax (only with DAC) for the Q4 2026 stood at ₹ 179 cr, compared to ₹ 106 cr in Q4 2025, grew by 68.9%.
Combined Ratio (IndAS): -
· Combined Ratio on NEP with DAC for Q4 2026 is 105.8%, as compared to 106.8% in Q4 2025
· Combined Ratio for Q4 2026 is 99.1%, as compared to 101.3% in Q4 2025
Premium Income: -
· In Q4 2026, Gross Direct Premium of the Company stood at ₹ 2,402 cr compared to ₹ 1,981 cr in Q4 2025, recording a growth of 21.3%
· In Q4 2026, Gross Written Premium of the Company stood at ₹ 2,736 cr compared to ₹ 2,576 cr in Q4 2025, recording a growth of 6.2%
Assets Under Management: -
· As on March 31, 2026, assets under management ₹ 22,922 cr, compared to ₹ 19,703 cr as at March 31, 2025, increased by ₹ 3,219 cr, having a growth of 16.3%.
Solvency: -
· Solvency ratio was at 2.42x as at March 31, 2026 as against 2.24x as at March 31, 2025, higher than the minimum regulatory requirement of 1.50x.
IGAAP:
Profitability:
· Profit before tax for the Q4 2026 stood at ₹173 cr, compared to ₹ 116 cr in Q4 2025, grew by 49.1%.
· Profit after tax for the Q4 2026 stood at ₹ 149 cr, compared to ₹ 116 cr in Q4 2025, grew by 28.4%.
Combined Ratio (IGAAP): -
· Combined Ratio for Q4 2026 is 111.6% with 1/n, as compared to 111.3% with 1/n in Q4 2025
· Combined Ratio for Q4 2026 is 109.4% without 1/n, as compared to 109.7% without 1/n in Q4 2025
About the Company
We aim to make insurance simple. Through innovation and transparency, we believe in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime. We are one of the leading digital full stack insurance companies, leveraging our technology to power what we believe to be an innovative approach to product design, distribution and customer experience for non-life insurance products. We offer motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which the customers can customize to meet their needs.
Quick Share
