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The New India Assurance Company Limited
Company type
Central Public sector undertaking
Traded as
BSE: 540769 NSE: NIACL
Industry
Insurance
Founded
23 July 1919; 104 years ago (23 July 1919)[1]
Founders
Dorabji Tata
Headquarters
Mumbai, Maharashtra
,
India
Area served
India
Key people
Neerja Kapur (Chairman and Managing Director)[2]
Products
General insurance
Vehicle insurance
Health insurance
Marine insurance
Property insurance
Crop insurance
Aviation insurance
Fidelity bond
Revenue
₹41,073 crore (US$4.9 billion) (2023)[3]
Operating income
₹1,310 crore (US$160 million) (2023)[3]
Net income
₹1,048 crore (US$130 million) (2023)[3]
Total assets
₹98,223 crore (US$12 billion) (2023)[3]
Total equity
₹25,864 crore (US$3.1 billion) (2023)[3]
Owner
Government of India (85.44%)[4]
Number of employees
12,816 (2023)
Website
newindia.co.in
New India Assurance Building, Mumbai, Maharashtra
The New India Assurance Co. Ltd. (NIA) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Mumbai,[5] it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations.[6] It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973.[7]
Previously, it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company following the passage of the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance became autonomous.
New India Centre Building, Cooperage Road, Mumbai, Maharashtra
^"New India Assurance - The New India Assurance India, Profile Of The New India Assurance Company Ltd". Iloveindia.com. 31 March 2007. Retrieved 16 July 2010.
^"Atul Sahai appointed CMD of New India Assurance for 5 years". www.moneycontrol.com. 4 December 2018. Retrieved 25 October 2020.
^ abcde"New India Assurance Financial Statements". moneycontrol.com.
^Nair, Remya (17 March 2021). "Why Modi govt is expected to struggle to sell stakes in 2 listed insurance companies". ThePrint. Retrieved 9 February 2023.
^"New India Assurance plans to raise stake in Nigerian JV". domain-b.com. 15 September 2006. Retrieved 16 July 2010.
^"The New India Assurance Co. Ltd". Newindia.co.in. Retrieved 16 July 2010.
^"The New India Assurance (India's Premier Multinational General Insurance Company)". www.newindia.co.in.
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Global Information
₹41,073 crore (US$4.9 billion) (2023)[3]
