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The New India Assurance Co. Ltd. (NIACL) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Mumbai , [ 5 ] it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations. [ 6 ]
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 ...
New Delhi: 2008 19 National Insurance Company: Govt. Kolkata: 1906 20 New India Assurance: Govt. Mumbai: 1919 21 Raheja QBE General Insurance: Private Mumbai: 2007 22 Reliance General Insurance: Private Mumbai: 2000 23 Care Health Insurance Ltd Private Gurugram: 2012 24 Royal Sundaram General Insurance: Private Chennai: 2000 25 SBI General ...
The Indian Life Assurance Companies Act, 1912 was the first statute regulating life insurance. In 1928 the Indian Insurance Companies Act was enacted to enable the government to collect statistical information about life- and non-life-insurance business conducted in India by Indian and foreign insurers, including provident insurance societies.
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With this, the company was ranked second among general insurance companies operating in India, behind New India Assurance, at the end of the 2014 Financial Year. [11] With about 2000 offices and approximately 11,000 employees and many more agents, the company operates in all of India, and neighbouring Nepal. [3]
New York would absorb a $49 million dead-cap hit if they part ways, which is much larger than the $23.5 million salary cap hit Rodgers is carrying. As a result, the Jets may prefer to split the ...
The New India Assurance Co Ltd (1919) Indian Mercantile; General Assurance; Swadeshi Life (later Bombay Life) Sahyadri Insurance (Merged into LIC, 1986) These companies were established when India was marked mostly by turbulent economic and political conditions including the Indian rebellion of 1857, World War I and World War II. The effect of ...