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New India Assurance Company

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The New India Assurance Company was incorporated on 23rd July, 1919 and commenced business from 14th October, 1919. In 1972, the year of its nationalisation, Government of India took over the management of the company along with all other non-life insurers in the country. NEW INDIA ASSURANCE (NIA) was subsequently reconstituted taking over 23 companies under the Scheme of Merger, following the nationalization of General Insurance Business in 1973. Later on in 2002, with the passage of Insurance amendment Bill (2002), New India Assurance Co. Ltd has been delinked from GIC and has been functioning as an independent company.

MR. R. Beri is the Chairman-cum-Managing Director.


NIA's progress at a glance:(Rs. in Crores)
  1998-1999 1999-2000
GROSS PREMIUM 2729.48 2979.53
NET PREMIUM 2186.92 2477.45
NET PROFIT 375.00 287.29
TOTAL ASSETS 6727.72 7664.71
CAPITAL AND FUNDS 3788.88 4294.62

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