New India Assurance
The company’s official tagline is ‘India’s Premier General Insurance Company.’ New India Assurance has grown to become India’s largest nationalized general insurance company in terms of gross premium collection from its operations in India and abroad.
New India Assurance
Sir Dorabji Tata (from the house of TATAs) founded the New India Assurance Co. Ltd. in 1919. After its nationalization in 1973, the general insurance came under the direct purview of the Ministry of Finance, Government of India. With branches in over 28 countries, New India Assurance Co. Ltd. offers over 200 policies across various sectors like telecom, motor, health, etc.
The company’s official tagline is ‘India’s Premier General Insurance Company.’ New India Assurance has grown to become India’s largest nationalized general insurance company in terms of gross premium collection from its operations in India and abroad.
New India Assurance Co. Ltd. At A Glance
| Company Type | New India Assurance Co. Ltd. |
| Founders | Sir Dorabji Tata |
| Founding Year | Set up in 1919 and nationalized in 1973 |
| Official Tagline | India’s Premier General Insurance Company |
| Company Type | Public Sector General Insurance Company |
| Headquarters | Mumbai, Maharashtra |
| Owner | Fully owned by the Government of India |
| Product Range | 200+ Policies offered |
| Number of Offices | 2300+ |
| Number of Employees | 16,000+ |
| Operates in | 28 countries |
Why You Should Buy New India Assurance Policies?
Here are a few reasons why you should consider New India Assurance Policies as an excellent choice for you:
- It is a public sector insurance company
- Rated AAA/ Stable by CRISIL
- One of the largest nationalized general insurance company in India
- One of the largest number of offices in India and abroad
- Highly qualified and technically equipped staff
- Sold almost 17 lakh policies so far
- Dedicated claim settlement team that has a high claim turnaround time and settlement ratio
- The company provides insurance cover for up to six family members, which includes four adults and two children
- It is a fully owned by the Government of India
- According to the Insurance Regulatory and Development Authority of India, the incurred claim settlement ratio of New India Assurance Health Insurance for F.Y. 2019-20 is 85.35 percent
- Rated B++ Stable FSR Rating and bbb+ Stable ICR Outlook by AM BEST Company
- First Indian company to receive an international agency’s rating based on its:
- Superior capital position
- Strong operating performance
- Strong market position
- Long-standing record of successful operations all over the globe
