Magma General Insurance — Financial Performance
Magma General Insurance's combined ratio was 118.5% for Q1 FY26-27, as reported in IRDAI form NL-20-ANALYTICAL-RATIOS.
Quarterly financial ratios — Q1 FY25-26 to Q1 FY26-27
| Metric | Q1 FY26-27 | Q4 FY25-26 | Q3 FY25-26 | Q2 FY25-26 | Q1 FY25-26 |
|---|---|---|---|---|---|
| incurred claims ratio | 84.3%+0.3 pts | 83.5% | 82.5% | 83.5% | 84.0% |
| net commission ratio | 20.9%+0.3 pts | 21.2% | 21.3% | 20.4% | 20.6% |
| expense ratio to gross premium | 32.7%+2.7 pts | 32.7% | 33.6% | 31.9% | 30.0% |
| combined ratio | 118.5%+2.9 pts | 116.4% | 115.7% | 115.9% | 115.6% |
| solvency ratio | 1.84× | 1.74×−0.28× | 1.81×+0.02× | 1.90×+0.13× | Not disclosed |
| profit before tax | ₹2 crore−84.2% | ₹2 crore | ₹-3 crore | ₹33 crore | ₹14 crore |
| profit after tax | ₹2 crore−78.6% | ₹2 crore | ₹-2 crore | ₹18 crore | ₹11 crore |
The small figure under each number is the change from the same quarter a year earlier — in percentage points for ratios, as a percentage change for profit before/after tax. Shown only where this insurer has a filing from exactly that quarter a year ago; no figure means that comparison isn't available, not that nothing changed.
Expense ratio shown on a gross-direct-premium basis (GDP), per IRDAI's 2021 reform — not directly comparable to an insurer's net-written-premium (NWP) basis figure if quoted elsewhere. "Not disclosed" means this insurer's filing for that quarter didn't include this figure — not an estimate.
Full-year financial ratios
These are the insurer's own full-year figures, as filed with IRDAI for the whole fiscal year — not the same as adding up four quarters, since each quarter's own number above is a standalone snapshot for that quarter alone.
| Metric | FY25-26 |
|---|---|
| incurred claims ratio | 83.5% |
| net commission ratio | 21.2% |
| expense ratio to gross premium | 32.7% |
| combined ratio | 116.4% |
| profit before tax | ₹47 crore |
| profit after tax | ₹29 crore |
Provenance (combined ratio, latest quarter)
- Reported by
- Magma General Insurance
- Regulatory form
- NL-20-ANALYTICAL-RATIOS · what this form contains
- Reporting period
- Q1 FY26-27
- Source document
- textplor-vendor-2026-27-Q1.xlsx · Magma General Insurance's disclosure page
- Extracted by
- EverythingInsurance Research (vendor-compiled dataset, textplor.com, offline 2026-10-26)
- Last verified
- 2026-10-26
- Note
- Vendor-aggregated dataset, not pulled directly from insurer's own public disclosure page. Gap-fill only (no existing value for this insurer/metric/period). Cross-check against insurer's own source queued separately -- see project-log/quarterly-update-runbook.md.