About New India Assurance Co. Ltd.

The New India Assurance Co. Ltd., based in Mumbai, Maharashtra is a public sector general insurance company of India.^[4] “It is the largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations”.^[5] It was founded by Sir Dorabji Tata in 1919, and was nationalized in 1973.^[6]

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.