The New India Assurance Company was brought to conduct by Sir Dorab Tata from the house of TATAs. This firm was instituted in 1919. Nationalization of the New India Assurance Company took place in 1973 along with the coagulation of distinct Indian companies.
New India Assurance’s Indian business reached Rs 10,000 crores (Rs 100 billion) in 2012-13.
The New India Assurance got an AAA/Stable rating by CRISIL, which is a representation of the company’s financial solidity and solubility, which in change communicates about the influential capacity of the company to meet the claims of their customers. Moreover, New India Assurance is the solitary direct insurer in India rated A - (Excellent - Stable outlook) by AM Best.
New India Assurance offers insurance products in the following domains :
There are several general insurers today in the market. However, the following generalisations make New India Assurance General Insurance Company win the play over the other insurers.
In 2017-2018, New India Assurance claim settlement ratio was :