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About Us- Overview

New India Assurance Co Ltd, founded by Sir Dorabji Tata in 1919, a 100% Government owned Multinational General Insurance Company, today operates in 28 countries and headquartered at Mumbai, India. Our global business crossed Rs. 22270 crores in March 2017.

We have been market leaders in India in Non – life business for more than 40 years. Our Indian business crossed Rs.19100 crores in March 2017. We are the only direct insurer in India rated A- (Excellent) by AM BEST Company since 2007.We have been rated AAA/Stable by CRISIL since 2014, indicating that the Company has the Highest degree of Financial strength to honour its Policyholders obligations.

We have been leading the market, apart from premium, in reserves & net worth for many years.

Indian operations

Our Indian operations today span across all territories through 2452 offices, including more than 1339 micro offices. We have 17702 employees and 68389 tied agents as on 30th June 2017, providing insurance services to our customers. We have over 230 products.

Our Indian operations have earned many awards & recognitions :

YEAR

AWARDS WON BY THE COMPANY

AWARDING AUTHORITY

2014

INDIAN INSURANCE AWARDS -UNDERSERVED MARKET PENETRATION- GENRAL INSURANCE

FINTELEKT

2014

INDIAN INSURANCE AWARDS -PERSONAL LINES GROWTH LEADER (GENERAL INSURANCE ) PUBLIC E SECTOR

FINTELEKT

2014

INDIA'S SME FORUM BEST INSURER

INDIA SME FORUM

2014

DALAL STREET INVESTMENT JOURNAL AWARD FOR BEST GENERAL INSURANCE COMPANY OF THE YEAR

DALAL STREET INVESTMENT JOURNAL

2014

GOLDEN PEACOCK EXCELLENCE IN CORPORATE GOVERNANCE AWARD

GOLDEN PEACOCK

2014

INDIAN INSURANCE AWARDS -TECHNOLOGY MATURITY - GENERAL INSURANCE

FINTELEKT

2015

INDIAN INSURANCE AWARDS -GENERAL INSURANCE COMPANY OF THE YEAR

FINTELEKT

2015

SAMUDRA MANTHAN AWARDS- INSURANCE COMPANY OF THE YEAR

DIGITAL EMPOWERMENT FOUNDATION

2015

OUTLOOK MONEY AWARDS - BEST HEALTH INSURER

OUTLOOK MONEY

2015

INDIAN INSURANCE AWARDS - COMMERCIAL LINES GROWTH LEADERSHIP GENERAL INSURANCE - LARGE COMPANIES CATEGORY

FINTELEKT

2015

INDIAN INSURANCE AWARDS - CLAIMS SERVICE LEADER - LARGE COMPANIES CATEGORY

FINTELEKT

2015

DUN & BRADSTREET PSU AWARDS - INSURANCE (GENERAL)

DUN & BRADSTREET

2016

INDIAN INSURANCE AWARDS -GENERAL INSURANCE COMPANY OF THE YEAR

FINTELEKT

2016

GOLDEN PEACOCK EXCELLENCE IN CORPORATE GOVERNANCE AWARD

GOLDEN PEACOCK

2016

GOLDEN PEACOCK EXCELLENCE INNOVATIVE PRODUCT-SERVICE AWARD

GOLDEN PEACOCK

2016

INDIAN INSURANCE AWARDS e-BUSINESS LEADER -GENERAL INSURANCE

FINTELEKT

2016

INDIAN INSURANCE AWARDS - UNDER SERVED MARKET PENETRATION - GENERAL INSURANCE (LARGE CATEGORY)

FINTELEKT

2016

ABP NEWS - BEST GENERAL INSURANCE COMPANY

ABP

2016

DUN & BRADSTREET PSU AWARDS - NON LIFE INSURANCE

DUN & BRADSTREET

2017

GOLDEN PEACOCK BUSINESS EXCELLENCE AWARD

GOLDEN PEACOCK

2017

INDIA INSURANCE SUMMIT - INSURANCE COMPANY OF THE YEAR

QUEST CONFERENCES

2017

DUN & BRADSTREET BFSI AWARDS - INDIA'S LEADING INSURANCE COMPANY- NON-LIFE PUBLIC SECTOR

DUN & BRADSTREET

 

 

 

 

AWARDS WON BY CMD

 

2014

SKOCH AWARD FOR STELLAR PERFORMANCE AS A LEADER

SKOCH

2015

LOKMAT BFSI AWARDS FOR OUTSTANDING CONTRIBUTION TO THE INDUSTRY

LOKMAT

2016

ASIA INSURANCE REVIEW - PERSONALITY OF THE YEAR AWARD

ASIA INSURANCE REVIEW

2017

INDIA INSURANCE SUMMIT - LIFETIME ACHIEVEMENT AWARD MR. G. SRINIVASAN

QUEST CONFERENCES

Foreign operations

New India’s overseas operations have a long tradition dating back to the inception of the Company itself. In 1920, within one year of the incorporation of the Company, New India opened an Office in London in the United Kingdom. Today it operates in 28 countries through direct branches, agency operations, subsidiary companies , Representative office and Associates.. In addition, New India has also equity participation in Insurance companies in Singapore, Kenya, Saudi Arabia. London Branch has been in operations for past 98 years and has a desk at Lloyds and operations in many countries like Japan, Mauritius etc are more than 60 years old. New India has a subsidiary company in Trinidad & Tobago at Port of Spain with branches in St. Lucia, Dominica, St.Maarten, Guyana and Anguilla and another in Nigeria, Prestige Assurance Plc, based out of Lagos. New India has a Representataive Office in Yangon in Myanmar. New India has equity participation in WAFA Insurance (SICCI) in Saudi Arabia, India International Insurance Pte. Ltd in Singapore and Kenindia Assurance Co Ltd, Nairobi, Kenya.

Other promoted companies

We are the co –promoters of Agricultural Insurance Company of India& GIC Housing Finance Ltd. We have also co promoted a common TPA in the Health Insurance support services jointly, with other Government owned insurers – Health India TPA Insurance Services Ltd.