History of New India Assurance Company Limited

_x000D_ 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. _x000D_ _x000D_ 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. _x000D_ _x000D_ 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.  _x000D_

Business Segments of New India Assurance Company Limited

_x000D_ The primary categories that the company offers insurance coverage include:_x000D_

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• Motor: Under this, the company covers several vehicles, including fleet, commercial vehicles, private cars, two-wheelers, standalone CPA cover, etc. 
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• 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. 
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• 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.  
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• 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. 
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• Credit Insurance: The company offers business credit coverage such as Credit Shield Domestic, Credit Shield Export and Surety Bond. 
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• Aviation: Under this segment, the company offers Airline Hull War and Aviation - Loss of Licence covers. 
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• 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. 
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• Fire: The covers provided under this category include Bharat Sookshma Udyam Suraksha, Fire Floater, Fire Large Risk, Petrochemical, etc. 
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• Marine: Under marine, the company offers Duty Insurance, Hull and Machinery, Ship Breaking Insurance, etc. 
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_x000D_ As of March 31, 202 New India Assurance Company Limited had 3 subsidiaries, which  include:_x000D_

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• The New India Assurance Company (Trinidad & Tobago) Limited: This company is an insurance provider in Trinidad and Tobago. 
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• The New India Assurance Company (Sierra Leone) Limited: This company is an insurance provider in Sierra Leone.     
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• Prestige Assurance Plc. Nigeria: This company is a general insurance provider in Nigeria.  
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Key Personalities of New India Assurance Company Limited

_x000D_ Neerja Kapur, Chairman and Managing Director_x000D_ _x000D_ 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. _x000D_

Corporate Actions of New India Assurance Company Limited

_x000D_ New India Assurance Company Limited announced a bonus share in 2018 of a 1:1 ratio at a record date of June 28, 2018. _x000D_

SWOT Analysis of New India Assurance Company Limited

_x000D_ Strengths_x000D_

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• Offers a wide range of products covering a diverse customer base.
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• Offers services in India and overseas as well.   
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_x000D_ Weakness_x000D_

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• Dependent on Government schemes and policies.
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_x000D_ Opportunities _x000D_

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• Can collaborate with local players and cut down competition.  
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_x000D_ Threats _x000D_

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• The insurance industry is highly regulated.
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