Introduction: The New India Assurance Company is the oldest and largest general insurance company in the country headquartered at Mumbai. The company has market leadership in all segments of the industry except crop insurance. The company has established the multi channel distribution network comprising of agents, brokers, bancassurance partners and other intermediaries.
Date of Establishment: Company was founded in the year 1919.
Product & Service Offering: The company is into general insurance market offering its services in fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products.
Customer Segment: Customer base comprises majorly middle class and upper middle class in cities. The company has dominant presence in eastern & southern parts of India.
Promoters of NIA: President of India, acting through the MoF.
Objects of the Issue: The key aim of the issue is to meet
i) to meet the working capital requirement
ii) General corporate purposes.
iii) smoothen up the business expansion plan
iv) Improving solvency margin and solvency ratio
Summary of financial Information (Consolidated)
||For the year/period ended (in Rs. million)
|Profit After Tax