The New India Assurance Company is a leading Public Sector General Insurance Company in India, majorly owned by the Government of India. Founded by Sir Dorabji Tata in 1919, it was nationalized in 1973. It is a dominant force in the Indian non-life insurance market, known for its extensive network with several offices across the country. The company has a significant global presence, operating in many countries.

The company boasts a remarkably diverse product portfolio, extending far beyond conventional offerings. The company provides complex and specialized coverage for large-scale operations, including aviation, marine insurance, or property insurance for large risks. At the other end of the spectrum, it caters to the rural and underserved markets with a range of micro-insurance products, demonstrating a commitment to serving a wide array of customers and their unique needs.

The Insurance Regulatory and Development Authority of India (IRDAI) has consistently identified the company as a Domestic Systemically Important Insurer (D-SII). This designation is reserved for insurers whose size, market importance, and domestic and global interconnectedness are so significant that their distress or failure could cause a major disruption to the domestic financial system.

Business area of the company

The company is a leading public sector general insurance company in India, owned by the Government of India.

Products

• Motor Insurance
• Health Insurance
• Travel Insurance
• Rural Insurance
• Agricultural Insurance 
• Credit Insurance
• Engineering Insurance
• Aviation Insurance
• Personal Accident Insurance
• Liability Insurance
• Marine Hull Insurance
• Fire Insurance
• Marine Cargo Insurance

Awards 

2014

• Indian Insurance Awards - Under Served Market Penetration - Genral Insurance
• Indian Insurance Awards - Personal Lines Growth Leader (General Insurance) Public E Sector
• India's SME Forum Best Insurer
• Dalal Street Investment Journal Award for Best General Insurance Company of the Year
• Golden Peacock Excellence in Corporate Governance Award 
• Indian Insurance Awards - Technology Maturity - General Insurance

2015

• Indian Insurance Awards - General Insurance Company of the Year
• Samudra Manthan Awards - Insurance Company of the Year
• Outlook Money Awards - Best Health Insurer
• Indian Insurance Awards - Commercial Lines Growth Leadership General Insurance - Large Companies Category
• Indian Insurance Awards - Claims Service Leader - Large Companies Category
• Dun & Bradstreet PSU Awards - Insurance (General)

2016

• Indian Insurance Awards - General Insurance Company of the Year
• Golden Peacock Excellence in Corporate Governance Award
• Golden Peacock Excellence Innovative Product-Service Award
• Indian Insurance Awards E-Business Leader -General Insurance
• Indian Insurance Awards - Under Served Market Penetration - General Insurance (Large Category)
• ABP News - Best General Insurance Company
• Dun & Bradstreet PSU Awards - Non Life Insurance

2017

• Golden Peacock Business Excellence Award
• India Insurance Summit - Insurance Company of the Year
• Dun & Bradstreet Bfsi Awards - India's Leading Insurance Company- Non-Life Public Sector

2018

• India Insurance Summit Award 2018: General Insurance Company of the Year
• India Insurance Summit Award 2018: Product Innovator of the Year- Title Insurance Policy
• Outlook Money Gold Award
• Business Today Financial Award: Best General Insurer Of The Year
• Skoch Award Customer Service Order of Merit
• Skoch Award Company of the Year Order of Merit

2019

• Dun & Bradstreet BFSI Companies India’s leading general insurance policy award 2019
• The company bagged the prestigious “Samudra Manthan” Awards for the year 2019.

2021-22

• Insurance Brokers Association of India has awarded New India Assurance as MOST BROKER FRIENDLY INSURER.
• The company bagged the Prestigious Best BFSI Brand for the year 2022 awarded by The Economic Times

2022-23

• Best BFSI Brands-2022
• General Insurance Company of the year
• Award for Brand Excellence
• Akshaya Patra Foundation

2023-24

• Most trusted General Insurance company of the year
• Leading General Insurance company of the year
• SKOCH award – corporate excellence 
• Most preferred workplace
• Best health insurer

2024-25

• Best Health Insurance Coverage – India
• Most Trusted Brands of India 2025-26 
• Best Health Insurance Coverage
• Digital Champion Award - Category Artificial Intelligence
• Best Insurance Enabler for MSMEs 
• Company of the year

Milestones

• 1919: The company was incorporated as a limited company with an authorised share capital of Rs 20 crore.
• 1920: Commenced operations in London.
• 1956: Transferred its life insurance business to the Life Insurance Corporation of India, which was formed under the Life Insurance Corporation Act, 1956, pursuant to which life insurance business in India was nationalised.
• 1973: The General Insurance Corporation of India was formed under the General Insurance Business (Nationalisation) Act, 1972, which provided for nationalisation of general insurance business in India. The company became a subsidiary of the General Insurance Corporation of India after the GoI transferred its entire shareholding in general insurance companies to the General Insurance Corporation of India.
• 1974: The New India Assurance Company (Merger) Scheme, 1973, which was framed by the Department of Revenue and Insurance, Ministry of Finance, GoI under the General Insurance Business (Nationalisation) Act, 1972, became effective.
• 2003: Pursuant to the General Insurance Business (Nationalisation) Amendment Act, 2002, the General Insurance Corporation of India transferred its entire shareholding in Company to the GoI.
• 2012: The company crossed premium of Rs 100,000 million during 2011-12.
• 2016: Received the approval for opening an office at Gujrat International Finance Tec-City, Gandhinagar.
• 2017: The company crossed premium of Rs 200,000 million during 2016-17.
• 2019: the New India Assurance Company signed the deed of accession for entering into the Inter Creditor Agreements for the Company's exposure to the Debt instruments of Reliance Home Finance and Dewan Housing Finance.
• 2020-21: Gross Written premium (Global) stood at Rs 33,046 crore.
• 2021-22: In FY 2021-2022 Bancassurance contributed Rs 267.66 crore premium income and ICR was 82.34%.
• 2022-23: The health portfolio remains a dominant portfolio with the completion of a premium of Rs 16,682 crore in FY 2022-23.
• 2023-24: Health LOB remains a dominant portfolio with the completion of a Premium of Rs. 18,320 crore in the Financial year 2023-24.
• 2023-24: Gross Written Premium (Global) stood at 43618 crore.
• 2025-26: New India Assurance solidified its position as India’s largest general insurer, achieving a record gross global written premium (GWP) of Rs 47,174 crore.