New India is a leading global insurance group, with offices and branches throughout
India and various countries abroad. The company services the Indian subcontinent
with a network of 1068 offices, comprising 28 Regional offices, 393 Divisional offices
and 648 branches. With approximately 21000 employees, New India has the largest
number of specialist and technically qualified personnel at all levels of management,
who are empowered to underwrite and settle claims of high magnitude.
New India has been rated "A-" (Excellent) by A.M.Best Co., making it the only Indian
insurance company to have been rated by an international rating agency. Rating based
on following factors:
Incorporated on July 23rd, 1919 Founded by the House of Tata Founder member - Sir
Dorab Tata. Nationalised in 1973 with merger of Indian companies.
Gross Premium (in India) of Rs. 8542.86 crores in the year 2011-2012, as against
Rs. 7097.14 crores in the year 2010-2011. Assets Rs. 42162.74 crores as on 31st
March 2012. Network of Offices-28 Regional Offices, 5 Large Corporate Offices, 400
Divisional Offices, 588 Branches, 26 Direct Agent Branches and 149 Micro Offices.
Rank No. 1 in the Indian market. Largest Non-Life insurer in Afro-Asia excluding
Japan. First Indian non-life company to reach Rs. 10073.88 crores Gross Premium.
Global Re-insurance facilities. Over-seas presence in countries like Japan, U.K,
Middle East, Fiji and Australia.
Overseas operations commenced in 1920. Operations in 20 countries in the year 2011-12
Network of 9 Branches, 7 Agencies, 1 Associate companies and 3 Subsidiary companies
in the year 2011-12. Overseas Premium of Rs. 1531.37 crores in the year 2011-12.
Largest number of Offices - In India and Abroad Trained and technically qualified
staff 1085 fully computerised offices across India. "A-" (Excellent) rating by A.M.Best
& Co (Europe) First domestic company to be rated by an International Rating Agency
Rating based upon following factors: Superior capital position Strong operating
performance Strong market position Only company to develop significant International
operations, long record of successful trading outside India.
It will be the endeavour of this Office to strive to meet the standards of quality
of service as prescribed above.
This charter is a summary of what New India Assurance Company proposes to offer
to the Citizens. The charter does not in any way become a part of the policy conditions
or policy contract of the New India Assurance Co. or the conditions of service of
the workforce of the company.
(Impact of this Charter on Customer Service shall be evaluated periodically and
wherever found necessary, introduction of requisite penalty provisions in cases
of non-compliance of timelines shall be examined for the sake of adding to efficacy
of the charter.)