Finance - Non Life Insurance Stocks in India

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded.

Income Scale & Growth Durability

General Insurance Corporation of India has the highest Income among the 4 Finance - Non Life Insurance companies compared here, at ₹52,985 crore. New India Assurance Company Ltd is next at ₹49,963 crore. ICICI Lombard General Insurance Company Ltd has the highest Income growth at 11.8%, so level and change sit with different companies.

What the numbers say: General Insurance Corporation of India is the scale leader at ₹52,985 crore, 6% ahead of New India Assurance Company Ltd. ICICI Lombard General Insurance Company Ltd's growth is 11.8% from a ₹27,687 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: General Insurance Corporation of India is the scale benchmark; ICICI Lombard General Insurance Company Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: General Insurance Corporation of India's growth falls below ICICI Lombard General Insurance Company Ltd's for two consecutive comparable reports while operating margin also compresses.

Profit Scale & Acceleration

General Insurance Corporation of India has the highest Net profit among the 4 Finance - Non Life Insurance companies compared here, at ₹9,664 crore. ICICI Lombard General Insurance Company Ltd is next at ₹2,429 crore. The same company also holds the highest Profit growth, at 30%. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: General Insurance Corporation of India leads with ₹9,664 crore of TTM profit, 297.9% above ICICI Lombard General Insurance Company Ltd. General Insurance Corporation of India shows 30% growth from a ₹9,664 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: General Insurance Corporation of India sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Funding Base & Its Composition

No company in this Finance - Non Life Insurance comparison has a funding base figure that passes this section's guard, so the Deposits rank is empty. On Borrowings, Star Health & Allied Insurance Company Ltd is highest at ₹490 crore, across 4 of 4 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

Return On Assets

General Insurance Corporation of India has the highest ROA among the 4 Finance - Non Life Insurance companies compared here, at 2.7%. ICICI Lombard General Insurance Company Ltd is next at 2.5%. The same company also holds the highest ROA change, at +0.3 percentage points. 3 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: General Insurance Corporation of India leads both roa at 2.7% and roa change at +0.3 percentage points.

Investor read: General Insurance Corporation of India sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROE — Leaders & Improvers

ICICI Lombard General Insurance Company Ltd has the highest ROE among the 4 Finance - Non Life Insurance companies compared here, at 16.6%. General Insurance Corporation of India is next at 14.6%. General Insurance Corporation of India has the highest ROE change at +0.1 percentage points, so level and change sit with different companies.

What the numbers say: ICICI Lombard General Insurance Company Ltd leads roe at 16.6%; General Insurance Corporation of India leads roe change at +0.1 percentage points.

Investor read: ICICI Lombard General Insurance Company Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

Gross NPA — Leaders & Improvers

No company in this Finance - Non Life Insurance comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 4 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out.

Withheld from this comparison: New India Assurance Company Ltd (NIACL) — its two data sources disagree by up to 8.3% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

Valuation Against Growth & Quality

General Insurance Corporation of India has the lowest P/BV ÷ ROE among the 4 Finance - Non Life Insurance companies compared here, at 0.06×. New India Assurance Company Ltd is next at 0.2×. The same company also holds the lowest P/BV, at 0.89×. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: General Insurance Corporation of India has the lowest comparable P/BV ÷ ROE at 0.06×, 70% below New India Assurance Company Ltd. Only 4 of 4 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Market action

Star Health & Allied Insurance Company Ltd has the strongest one-year price move in Finance - Non Life Insurance at +34.5%. It also leads on Mansfield relative strength against NIFTY at +19.4%. 2 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

What can make this comparison misleading?

This Finance - Non Life Insurance comparison names 7 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-feed figures withheld because the two sources disagree. 2 of the 7 ranked sections have fewer than three usable current readings.

Which companies are included?

All 4 companies in the canonical Finance - Non Life Insurance membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

How was this comparison built?

This comparison is built from the reported filings of 4 Finance - Non Life Insurance companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Finance - Non Life Insurance company comparison FAQs

These 15 answers restate the Finance - Non Life Insurance comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.