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New India Assurance Co. Ltd. (NIACL) is an Indian public sector insurance company owned by the Government of India and regulated by the Ministry of Finance. Headquartered in Mumbai,
It is the largest domestic general insurance company in India based on gross premiums collected excluding foreign operations.
Earlier it was a subsidiary of General Insurance Corporation of India (GIC). But when GIC became a reinsurance company after the enactment of the IRDA Act in 1999, its four main insurance subsidiaries, New India Assurance, United India Insurance, Orital Insurance and Insurance became independent.
NIA is the only direct insurer in India rated A-(Excellt – positive outlook) by AM Best. CRISIL reiterated its AAA/STABLE rating, indicating that the company has the highest level of financial strength. Two people died in a devastating fire at an insurance office in the capital of Kerala. One of the deceased has been identified as Vaishna, an employee of this office. Her husband remains unidentified and police believe she is the unidentified body
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The aftermath of a fire that broke out at the office of New India Assurance at Pappanamkod in Thiruvananthapuram, Kerala on September 3, 2024. | Photo credit: Special Arrangements
A huge fire broke out in the office of New India Assurance Co. Tuesday afternoon.
Initially, an explosion in the ventilation system was suspected, but subsequent investigation revealed possible signs of foul play.
The fire broke out around 1:30 p.m. at the company’s Pappanamcode portal office. Among the dead was 34-year-old Vaishna, a laborer who lived with her two children and her mother in a rented house in Melamkod, near Pappanamkod. Police said she had been separated from her husband Binukumari Mottamodu for almost four years.
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The identity of the second victim, who is a man, is unknown. Both were declared brought dead after being shifted to Thiruvananthapuram Medical College Hospital.
The case took a strange turn after the Nemom police, who had registered a case of unnatural death, could not contact Binukumar, as his phone was switched off. Witnesses reported that a few hours before the incident, a man caused a disturbance in the insurance office. Apart from this, the police found CCTV cameras showing Binukumar’s presence in the area. Moreover, forensic experts and Kerala State Electricity and Electricity Regulatory Commission officials ruled that a short circuit or explosion in an air conditioner was the cause of the fire.
These findings led the police to suspect that Binukumar may have died of unknown causes. However, his identity has not been confirmed.
Due to the fire, office furniture, documents and other items were consumed by the fire. The windows were also broken by the intense heat. The fire was extinguished within 30 minutes. Two fire tenders were dispatched from Chenkalchula fire station.
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The shop, located on the first floor of a two-storey building at Pappanamkod Junction, is the only place where businesses on the ground floor are not affected.
Revenue Minister K. Rajan said Thiruvananthapuram Sub-Collector Aswathi Srinivas has been appointed to conduct a preliminary inquiry into the incident. General Education Minister V Sivankutty and Food and Supplies Minister G. Anil also promised a thorough investigation.