All four public sector general insurers turn profitable; combined Q3 profit ₹1,066 crore
The Finance Ministry said on 13 February 2025 that all public sector general insurance companies had become profitable, posting a combined profit of ₹1,066 crore in Q3 of 2024-25.
Summary
All public sector general insurance companies (PSGICs) have become profitable, the Ministry of Finance said on 13 February 2025. From combined losses of over ₹10,000 crore in 2022-23, they posted a combined profit of ₹1,066 crore in Q3 of 2024-25. United India Insurance posted a profit in Q3 of 2024-25 after a gap of seven years; Oriental Insurance and National Insurance turned profitable from Q4 of 2023-24 and Q2 of 2024-25, while New India Assurance has remained profitable. The government had infused ₹17,450 crore of capital between 2019-20 and 2021-22.
Key facts
- Announced
- 13 February 2025, Ministry of Finance
- Combined Q3 2024-25 profit
- ₹1,066 crore
- 2022-23
- Combined losses of over ₹10,000 crore
- Back in profit after 7 years
- United India Insurance
- Capital infusion
- ₹17,450 crore (2019-20 to 2021-22)
Practice MCQs 1 questions
Which public sector general insurer posted a profit in Q3 of 2024-25 after a gap of seven years, as stated by the Finance Ministry in February 2025?
Show answer
Correct answer: B — United India Insurance Company
United India Insurance posted a profit in Q3 of 2024-25 after seven years, while New India Assurance has been making profits regularly.