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New India Assurance
New India Assurance Company

About New India Assurance

"The New India Assurance Co. Ltd., based in Mumbai, Maharashtra is one of the five Wholly Government of India owned assurance companies of India.[4] It is the ""largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations"". .[5] It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973. Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became an re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy."

Gross premium ( in India) of Rs.15149.50 Cr.in the year 2015-16 as against Rs. 13209 Cr. in the year 2014-15. Assets Rs.62880 Cr. as on 31st March 2016. Network of Offices-31 Regional Offices, 6 Large Corporate Offices, 448 Divisional Offices, 583 Branches, 27 Direct Agent Branches and 1041 Micro Offices. Rank No. 1 in the Indian market. Largest Non-Life insurer in Afro-Asia excluding Japan. First Indian non-life company to reach Rs. 18371 Cr. gross premium. Global Re-insurance facilities. Over-seas presence in countries like Japan, U.K, Middle East, Fiji and Australia.

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