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A view of the IFFCO plant at Aonla, Uttar Pradesh. IFFCO became an autonomous cooperative, expanding its presence and partnerships in India and abroad. 2000 saw the establishing of IFFCO Tokio General Insurance Company Ltd., and the launch of customized rural-centric insurance products. IFFCO acquired shareholding in the Oman India Fertilizer ...
HDFC ERGO General Insurance Company: Private Mumbai: 2002 13 ICICI Lombard: Private Mumbai: 2001 14 IFFCO TOKIO General Insurance: Private Gurugram: 2000 15 Kotak Mahindra General Insurance: Private Mumbai: 2015 16 Liberty General Insurance: Private Mumbai: 2013 17 Magma HDI General Insurance: Private Mumbai: 2009 18 Niva Bupa Health Insurance ...
National Insurance Company Limited was incorporated on 5 December 1906 with its registered office in Kolkata.Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were merged with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India.
It was found that the company had fraudulently failed to pay out insurance claims in over 1000 cases. They had also neglected to pay benefits on another 85,000 insurance products and overcharged policyholders on premiums, causing a major scandal involving over 7 billion yen ($86,000,000 in today’s money) and leading to penalties for over 170 ...
AIC was incorporated on 20 December 2002 with an authorized capital of Rs. 1500 crore. The initial paid-up capital was Rs. 200 crores, which was subscribed by the promoting companies, General Insurance Corporation of India GIC (35%), NABARD (30%) and the four public-sector general insurance companies (8.75%) each, viz., National Insurance Co. Ltd., Oriental Insurance Co. Ltd.,
The business of general insurance was nationalised through The General Insurance (Emergency) Provisions Ordinance promulgated on 13 May 1971 and thereby the business being carried on by 107 entities was consolidated and restructured into four companies namely The New India Assurance Company Limited, Bombay, United India Fire & General Insurance Company Limited, Madras, Oriental Fire & General ...