The New India Assurance Company Limited stands as India’s largest non-life insurance company and the sole Indian multinational in the general insurance sector, headquartered in Mumbai. Established in July 1919 in Mumbai by the House of Tata, it was India’s first composite insurance company.
Global Presence
New India Assurance operates internationally with a robust presence:
- 28 Countries: Operations are spread across 28 countries, represented by branches and agencies in 20 countries, associate companies in 6 countries, and wholly owned subsidiaries in 2 countries.
Financial Strength
The company has maintained a strong financial rating:
- ‘A-‘ (Excellent): For eight consecutive years, New India has been rated ‘A-‘ (Excellent) by M/S A. M. Best (Europe) Company Limited. This rating underscores its financial strength, service excellence, and capacity to meet policyholders’ obligations, reflecting its solid capital position.
Operations in Mauritius
In Mauritius, New India Assurance has a longstanding presence:
- Establishment: Registered as a company in 1924, with operations commencing in 1935.
- Branch Office: Converted into a Branch Office in 1958, solidifying its local operational footprint and commitment to the Mauritian market.
Conclusion
New India Assurance Company Limited continues to uphold its legacy of excellence and innovation in the global insurance industry. With a strong foundation built on over a century of expertise and a strategic international presence, New India Assurance remains a pillar of stability and reliability in both the Indian and global insurance markets.
