New India Assurance Company Ltd Share Price

Summary

The New India Assurance Company Limited is the largest general insurance company in India in terms of net worth, domestic gross direct premium, profit after tax and number of branches. The Companys operations are spread across 29 States and seven Union Territories in India and across 26 other countries globally through a number of international branches, agency offices and Subsidiaries including a desk at Lloyds, London. The Companys insurance products can be broadly categorized into the following product verticals: fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products. The Company is registered with IRDAI for carrying out the business of general insurance. The New India Assurance Company Limited was incorporated as a Limited Company on July 23, 1919 at Mumbai, Maharashtra, India. The Company obtained the Certificate of Commencement of Business on October 14, 1919. In 1920, within one year of the incorporation of the Company, New India Assurance Company opened an office in London. After that, the Company saw a steady increase in presence abroad with Manila, Port Louis and Japan. In 1956, New India Assurance Company transferred life insurance business to the Life Insurance Corporation of India, which formed under the Life Insurance Corporation Act, 1956, pursuant to which life insurance business in India was nationalized. In 1973, The General Insurance Corporation of India was formed under the General Insurance Busines
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