New India is a leading global insurance group, with offices and branches throughout India and various countries abroad. The company services the Indian subcontinent with a network of 1068 offices, comprising 26 Regional offices, 393 Divisional offices and 648 branches. With approximately 21000 employees, New India has the largest number of specialist and technically qualified personnel at all levels of management, who are empowered to underwrite and settle claims of high magnitude.
New India has been rated "A-" (Excellent) by A.M.Best Co., making it the only Indian insurance company to have been rated by an international rating agency. Rating based on following factors:
• Superior Capital Position
• Strong Operating Performance
• Only Company to develop significant International operations, long record of successful trading outside India.
stablished by Sir Dorab Tata in 1919, New India is the first fully Indian owned insurance company in India.
New India is a pioneer among the Indian Companies on various fronts, right from insuring the first domestic airlines in 1946 to satellite insurance in 1980.
With a wide range of policies New India has become one of the largest non-life insurance companies, not only in India, but also in the Afro-Asian region.
Incorporated on July 23rd, 1919 Founded by the House of Tata Founder member - Sir Dorab Tata. Nationalised in 1973 with merger of Indian companies.
• Gross Premium (in India) of Rs. 5017.20 crores in the year 2006-2007, as against Rs. 4791.49crores in the year 2005-2006. Assets Rs. 27444.57crores as on 31st March 2007. Network of Offices-26 Regional Offices, 393 Divisional Offices, 614 Branches and 34 Direct Agent Branches. Rank No. 1 in the Indian market. Largest Non-Life insurer in Afro-Asia excluding Japan. First Indian non-life company to cross Rs. 5000 crores Gross Premium. Global Re-insurance facilities. Over-seas presence in countries like... [continues]
Cite This Essay
(2011, 03). New India Insurance. StudyMode.com. Retrieved 03, 2011, from http://www.studymode.com/essays/New-India-Insurance-604420.html
"New India Insurance" StudyMode.com. 03 2011. 03 2011 <http://www.studymode.com/essays/New-India-Insurance-604420.html>.
"New India Insurance." StudyMode.com. 03, 2011. Accessed 03, 2011. http://www.studymode.com/essays/New-India-Insurance-604420.html.