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Vehicle Insurance New India Assurance
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New India Assurance Ipo Updates: Subscribed 87% Times So Far On Day 1
New India Assurance Co. Ref. (NIACL) is an Indian public sector insurance company owned by the Government of India and managed by the Ministry of Finance. Headquartered in Mumbai,
Is India’s largest nationalized general insurance company based on gross premium collection, including overseas operations.
It was earlier a subsidiary of General Insurance Corporation of India (GIC). But when GIC became a reinsurer after the enactment of the IRDA Act 1999, its four main insurance arms New India Assurance, United India Insurance, Orital Insurance and National Insurance became autonomous.
NIA is the only direct insurer in India rated A-(Excellt – Positive Outlook) by AM Best. CRISIL has reaffirmed the AAA/STABLE rating, which means that the company has the highest level of financial stability.
