The New India Assurance Company Limited is India's largest general insurance company, excelling in net worth, domestic gross direct premium, and profit after tax. Founded in 1919 in Mumbai, it operates across India and 26 other countries, offering a range of insurance products including fire, marine, motor, crop, and health insurance. The company was nationalized in 1973 and later underwent an IPO in 2017. It continues to expand its domestic and international presence, leveraging partnerships with banks and cooperatives.
With a robust network of offices across the globe, New India Assurance has shown consistent growth in its global gross written premium, reaching Rs. 34,800 crores in FY 2022-23. Despite some underwriting losses in its foreign operations, the company remains a significant player in the insurance sector, contributing substantial premium income through bancassurance partnerships.
