ManipalCigna Health Insurance — Financial Performance
ManipalCigna Health Insurance's combined ratio was 111.0% 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 | 80.0%−7.0 pts | 65.0% | 92.0% | 110.0% | 87.0% |
| net commission ratio | 12.0%−1.0 pts | 16.0%−2.0 pts | 16.0%−3.0 pts | 15.0%−8.0 pts | 13.0%−8.0 pts |
| expense ratio to gross premium | 32.0%−1.0 pts | 36.0% | 42.0% | 46.0% | 33.0% |
| combined ratio | 111.0%−8.0 pts | 98.0%−17.0 pts | 131.0%−1.0 pts | 147.0%+24.0 pts | 119.0%+1.0 pts |
| solvency ratio | 1.93×+0.02× | 1.84×+0.08× | 1.56×−0.01× | 1.64×−0.11× | 1.91×+0.17× |
| profit before tax | ₹-54 crore+21.8% | ₹37 crore+35.9% | ₹-179 crore−106.7% | ₹-197 crore−146.2% | ₹-69 crore−40.3% |
| profit after tax | ₹-54 crore+21.8% | ₹37 crore+35.9% | ₹-179 crore−106.7% | ₹-197 crore−146.2% | ₹-69 crore−40.3% |
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 | 86.0% |
| net commission ratio | 15.0% |
| expense ratio to gross premium | 39.0% |
| combined ratio | 121.0% |
Provenance (combined ratio, latest quarter)
- Reported by
- ManipalCigna Health Insurance
- Regulatory form
- NL-20-ANALYTICAL-RATIOS · what this form contains
- Reporting period
- Q1 FY26-27
- Source document
- 07769dc0-e6ad-701d-f5b8-7716ee328184.pdf · ManipalCigna Health Insurance's disclosure page
- Extracted by
- irw_adapter v1
- Last verified
- 2026-10-25
- Note
- NL-20 row-format label match: combined_ratio