New India Assurance Co Ltd, today, is a 100 per cent Government owned multinational general insurance company operating in 22 countries and headquartered at Mumbai, India. New India Assurance global business crossed Rs 12,500 crore (US$ 2.01 billion). Founded by Sir Dorabji Tata in 1919, it is the market leader in non-life business in India for more than 40 years. The Indian business touched Rs 10,000 crore (US$ 1.61 billion) in 2012-13. It is the only direct insurer in India rated A-(Excellent – Stable outlook) by AM Best.
In 2012-13, New India Assurance has recorded the highest profit in India among all general insurers. The Indian operations, today span across all territories through 1,600 offices, including more than 600 micro offices. It has 19,000 employees and around 50,000 tied agents providing insurance services to our customers.
The Company’s foreign operations have commenced decades back and today it operates in 22 countries through subsidiaries, agency operations, direct branches and associate companies. In addition, New India has also equity participation in Insurance companies in Singapore, Kenya, Saudi Arabia & Jordan. London Branch has been in operations for past 92 years and has a desk at Lloyds and operations in many countries like Japan, Mauritius etc are more than 50 years old.
New India Assurance: Born to lead
|1919||Founded by Sir Dorabji Tata|
|1973||New India Assurance was Nationalised|
|2011||J D Power Asia Pacific has ranked New India Assurance Company Ltd, the highest in satisfying auto insurance customers|
|2012||Mauritius claim initiative award|
|2013||New India Assurance has been awarded the Golden Peacock Award for excellence in corporate governance by Institute of Directors at a glittering function held at London|
Updated: August, 2013