'The New India Assurance Co Ltd', is the Largest General Insurance Company of India.
The company was established in Mumbai in 1919 by Sir Dorabji Tata.
New India has been a market leader in India for the last forty years and it continue to retain its leadership position in the fiercely competitive market.
The company boasts:
- an excellent Asset Base (USD 9876 million) ,
- Worldwide Premium income of USD 2568 million (Financial Year 2014-15) and
- Superior Capital Reserves, which is reflected, in its very sound Solvency Margin Ratio.
New India has been certified as A- (Excellent) rating by AM Best (Europe).
It has have branches in 28 countries and continues to open more across the globe.
New India's Hong Kong Operations started in 1951 and it has since then contributed in the evolving general insurance sector of Hong Kong.
The New India Assurance Company Ltd.Hong Kong Branch, is rated A- Excellent by A.M.Best Company. CRISIL (Standard and Poors affliate in India) has reaffirmed its ‘AAA/Stable’ rating on The New India Assurance Company Ltd on 11 Sep 2014, indicating that the company has the highest degree of financial strength to honour its policyholders’ obligations. The rating continues to reflect the company’s leadership position in the Indian general insurance industry, its healthy capitalisation, sound asset quality, and comfortable liquidity. The rating also factors in New India Assurance’s 100 per cent ownership by, and its strategic importance to, the Government of India.