THE NEW INDIA ASSURANCE

Overview

NEW INDIA ASSURANCE CO. LTD, founded by Sir Dorabji Tata in 1919, a Multinational General Insurance Company, today operates in 28 countries and headquartered at Mumbai, India. Our global business crossed Rs. 22,270 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.19, 100 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 Policyholder's obligations.

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

Profile

History

Founded by Sir Dorab Tata from the house of TATAs and incorporated on 23rd July 1919, New India Assurance was nationalised in 1973, with the merger of Indian companies.

Present Position

Global Gross Premium for FY 2016-17 was Rs.22279 crores and for the first quarter of FY 2017-2018, ended 30th June 2017 is Rs.6132 crores. Profit before Tax and after tax as on 30th June 2017 is Rs.601 crores and Rs.499 crores respectively. As on 30th June 2017, Net worth of the company including fair value stands at Rs.37593 crores, Investments at Market value is Rs.56305 crores and Asset base at Rs.72576 crores.

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