New India Assurance
The New India Assurance Co. Ltd., based in Mumbai, is one of the five public sector insurance companies in India. It is the "largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations". . It was founded by Dorab Tata in 1919, and nationalized in 1973.
Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became an reinsurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy.
New India Assurance operates both in India and foreign countries. In the recent past it has succeeded in forging tie-ups with some of the leading public sector banks in India such as State Bank of India, Central Bank of India, Corporation Bank and United Western Bank to increase its distribution network.
Read more about New India Assurance: Offices, Premium Earned, Core Insurance Platform, Awards
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