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New India Insurance Company

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History

Incorporated on July 23rd, 1919 Founded by the House of Tata Founder member – Sir Dorab Tata. Nationalised in 1973 with merger of Indian companies.

Present Position

Gross Premium (in India) of Rs. 8542.86 crores in the year 2011-2012, as against Rs. 7097.14 crores in the year 2010-2011. Assets Rs. 42162.74 crores as on 31st March 2012. Network of Offices-28 Regional Offices, 5 Large Corporate Offices, 400 Divisional Offices, 588 Branches, 26 Direct Agent Branches and 149 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. 10073.88 crores Gross Premium. Global Re-insurance facilities. Over-seas presence in countries like Japan, U.K, Middle East, Fiji and Australia.

International Presence

Overseas operations commenced in 1920. Operations in 20 countries in the year 2011-12 Network of 9 Branches, 7 Agencies, 1 Associate companies and 3 Subsidiary companies in the year 2011-12. Overseas Premium of Rs. 1531.37 crores in the year 2011-12.

Our Strengths

Largest number of Offices – In India and Abroad Trained and technically qualified staff 1085 fully computerised offices across India. “A-” (Excellent) rating by A.M.Best & Co (Europe) First domestic company to be rated by an International Rating Agency Rating based upon following factors: Superior capital position Strong operating performance Strong market position Only company to develop significant International operations, long record of successful trading outside India.

Pioneers

  • First company to set up an Aviation Insurance Department in 1946.
  • First company to handle the Hull Insurance requirements of the Indian Shipping Fleet.
  • First company to establish its own Training School.
  • First company to introduce the concept of ‘Model Office Training’.
  • First company to create department in Engineering insurance.
  • Pioneer in Satellite insurance.

Citizens’ Charter

Our Vision

  • To be the most respected, trusted and preferred Non-life Insurer in the Global markets we operate.

Our Mission

  • To develop General Insurance Business in the best interest of the community.
  • To provide Financial Security to Individuals, Trade, Commerce & all other segments of the Society by offering Insurance products & Services of High Quality at affordable Cost.

Our Values

  • Highest priority to Customers needs
  • High standards of Public Conduct
  • Transparency in operations

Our Culture

  • Courtesy and Caring
  • Initiatives and Innovation
  • Integrity, Trustworthiness and Reliability

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