Girija Subramanian: Excellence in General Insurance

Under her stewardship, New India Assurance recorded a remarkable turnaround. After nearly three years of muted performance, growth surged to 15.27%, well above the industry average and market share climbed to 15.51%. A clear retail focus became the company’s mantra, with stronger agency and bancassurance channels and a stream of innovative products. She also declared the “Year of MSME,” creating a dedicated vertical aligned to the national financial inclusion agenda and setting ambitious targets for new-to-insurance customers.

Girija expanded outreach by establishing a state-level office in Gujarat to serve over 5,000 Gram Panchayats. Profitability strengthened through lower loss and combined ratios (excluding Motor TP) and one of the market’s lowest expense ratios. A customer-first approach delivered a repudiation ratio of just 0.2%, the lowest among general insurers. Before her transformative role at NIA, Girija served at GIC and the Agriculture Insurance Company, where she laid foundational work in enhancing risk-mitigation frameworks, extending insurance to agricultural communities, refining actuarial models and institutional strengthening.