Mumbai: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of 'bbb+' (Good) for The New India Assurance Company Limited (New India). Concurrently, AM Best has affirmed the India National Scale Rating (NSR) of aaa.IN (Exceptional) for New India with a stable outlook.

According to BERNAMA News Agency, the Credit Ratings reflect New India's balance sheet strength, which AM Best assesses as very strong, coupled with its adequate operating performance, favourable business profile, and marginal enterprise risk management (ERM). Additionally, the ratings take into account a neutral impact from New India's ultimate majority ownership by the Government of India.