The New India Assurance Company Moat Analysis: Score & Risks
The New India Assurance Company Ltd.
A first-pass moat teardown of The New India Assurance Company Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow read — primary edge in Cost Advantage. Provisional, single-pass evidence.
The New India Assurance Company Ltd. scores 5.17 on MoatSCORE 6.0 — a narrow moat in Insurance. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“Expense ratio reported for the first quarter stands at 11.77%. This was at 12.38% in the corresponding quarter of the last financial year.”
“a legacy that spans over century of unwavering commitment to protecting India's dreams and aspirations.”
“With a commanding market share of 12.6 %, we continue to be the trusted guardian of millions of Indians, while simultaneously pioneering the future of insurance in our great nation.”
“Today New India has presence in 26 countries including presence in 3 countries with Associates.”
“our motto remains, Growth with Profitability. And in this process, we have let go of a few loss-making businesses which were unwilling to renew at the right price or terms.”
“our renewal ratio as far as the health policies are concerned, it is almost about 75% to 80%. We see that the policies are renewed. Other than some small dips here and there thrown by the natural attrition.”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 6 — at or above 6, consistent with a narrow read. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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