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New India Assurance

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New India Assurance

  • New India Assurance has a market share of 14.5 per cent in FY13 in the non-life insurance segment
  • It is the largest non-life insurer in Afro-Asia, excluding Japan
  • It has been rated as "A-" (Excellent) for six consecutive years
  • Its Gross Direct Premium increased from US$ 1,406.2 million in FY09 to US$ 2,101.4 million in FY12, at a CAGR of 16 per cent

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

The total market size of the insurance sector in India is projected to touch US$ 350-400 billion by 2020.
x IBEF : India Brand Equity Foundation