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About New India Assurance Company

History of New India Assurance Company Limited

Founded in 1919 by Sir Dorabji Tata, New India Assurance Company Limited is a general insurance provider. This multinational general insurance company has more than 1,900 offices in India and is headquartered in Mumbai. The company has been providing insurance coverage for over 100 years. The business has touched ₹10,000 crore in FY 2013. The company also has a presence in about 25 countries, including the United Kingdom, Oman, UAE, Japan, Saudi Arabia, Kuwait, New Zealand, etc. They opened their first overseas office in London in 1920. The company released their IPO in November 2017 and is listed on the NSE and BSE.  The company works with an aim to make insurance easily accessible and understood. They provide several user-friendly platforms to enable insurance purchases and claims processing.  Under the Corona Kavach Policy, the company issued 1,23,609 policies covering 1,94,817 lives. To improve retail health growth, the company started several initiatives, including an instalment facility introduced for Arogya Sanjeevan. The company also has partnered with several motor dealers in India. The company also has a huge broker base, where about 98% of the brokers in the Indian insurance market are partnered with them.  

Business Segments of New India Assurance Company Limited

The primary categories that the company offers insurance coverage include:
  • Motor: Under this, the company covers several vehicles, including fleet, commercial vehicles, private cars, two-wheelers, standalone CPA cover, etc. 
  • Health: This segment covers several health insurance policies, such as Aarogya Sanjeevani Policy, Atmanirbhar Health Policy, Bhavishya Arogya Policy, Cancer Mediclaim Expenses - Group, Rashtriya Swasthya Bima Yojana, and much more. 
  • Travel: The travel insurance policy in this company includes an Overseas Mediclaim Insurance Policy for employment, business, studies and holidays and an Overseas Travel Ease Policy.  
  • Rural: They offer insurance coverage in rural regions. The products include Animal Driven Cart Insurance, Brackish Water Prawn Insurance, Camel Insurance, Farmers Package Insurance, etc. 
  • Credit Insurance: The company offers business credit coverage such as Credit Shield Domestic, Credit Shield Export and Surety Bond. 
  • Aviation: Under this segment, the company offers Airline Hull War and Aviation - Loss of Licence covers. 
  • Personal Accident: The insurance covers provided under this include Good Health Personal Accident, PM Kaushal Vikas Yojana, PM Suraksha Bima Yojana, Two Year GH Personal Accident, etc. 
  • Fire: The covers provided under this category include Bharat Sookshma Udyam Suraksha, Fire Floater, Fire Large Risk, Petrochemical, etc. 
  • Marine: Under marine, the company offers Duty Insurance, Hull and Machinery, Ship Breaking Insurance, etc. 
As of March 31, 202 New India Assurance Company Limited had 3 subsidiaries, which  include:
  • The New India Assurance Company (Trinidad & Tobago) Limited: This company is an insurance provider in Trinidad and Tobago. 
  • The New India Assurance Company (Sierra Leone) Limited: This company is an insurance provider in Sierra Leone.     
  • Prestige Assurance Plc. Nigeria: This company is a general insurance provider in Nigeria.  

Key Personalities of New India Assurance Company Limited

Neerja Kapur, Chairman and Managing Director Neerja Kapur has been Chairman and Managing Director of New India Assurance Company Limited since 2022. She is also the Chief Executive Officer of The New India Assurance Co. Ltd. (United Kingdom) and a member of the board of GIC Housing Finance Limited. 

Corporate Actions of New India Assurance Company Limited

New India Assurance Company Limited announced a bonus share in 2018 of a 1:1 ratio at a record date of June 28, 2018. 

SWOT Analysis of New India Assurance Company Limited

Strengths
  • Offers a wide range of products covering a diverse customer base.
  • Offers services in India and overseas as well.   
Weakness
  • Dependent on Government schemes and policies.
Opportunities 
  • Can collaborate with local players and cut down competition.  
Threats 
  • The insurance industry is highly regulated.

Parent Organisation
Govt of India
Managing Director
Neerja Kapur
Founded
1919
NSE Symbol
NIACL

Peer Comparision

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Community Discussion

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AngelOne
10th July 2024
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AngelOne
10th July 2024
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The New India Assurance Company Ltd FAQs

The New India Assurance Company Ltd (NIACL) share price as of July 12, 2024, on NSE is Rs 288.04 (NSE) and Rs 288.04 (BSE) on BSE.
Yes, You can buy The New India Assurance Company Ltd (NIACL) shares by opening a Demat account with Angel One.
The New India Assurance Company Ltd (NIACL) share can be bought through the following modes:
1. Direct investment: You can buy The New India Assurance Company Ltd (NIACL) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to The New India Assurance Company Ltd (NIACL) shares.
The main business of New India Assurance is to provide high quality insurance products and Services at low costs to ensure financial security for individuals, traders, and other sections of society.
The main promoter of New India Assurance is the President of India with 85.44% shareholding.
Some of the subsidiaries that come under New India Assurance are The New India Assurance Company (Trinidad & Tobago) Limited, Prestige Assurance Plc. Nigeria, and The The New India Assurance Company (Sierra Leone) Limited.
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