New India Assurance Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/new-india-assurance/ Fri, 12 Dec 2025 08:01:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 AM Best positive on New India Assurance amid ‘improving’ risk management https://insuranceasianews.com/am-best-positive-on-new-india-assurance-amid-improving-risk-management/ Fri, 12 Dec 2025 07:39:24 +0000 https://insuranceasianews.com/?p=206733 The rating agency has affirmed the financial strength rating of India's largest non-life insurer of B++ and its long-term issuer credit rating of bbb+.

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AM Best has revised its outlook for New India Assurance, India’s largest non-life insurer by GWP, from stable to positive and has affirmed the insurer’s ratings, according to a rating report.
The rati...

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]]> Gallagher partners with New India Assurance, Munich Re to create India’s first pandemic parametric https://insuranceasianews.com/gallagher-partners-with-new-india-assurance-munich-re-to-create-indias-first-pandemic-parametric/ Fri, 17 Oct 2025 10:04:23 +0000 https://insuranceasianews.com/?p=202220 The Phoenix Mills has become the first insured in India to be covered against business interruption losses due to pandemic or epidemic outbreaks based on parametric triggers.

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Broker Gallagher has created India’s first pandemic insurance using parametric triggers, underwritten by New India Assurance and reinsured by Munich Re, according to a press release.
Acting as both re...

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]]> Indian government to reduce stake in GIC Re, New India Assurance: report https://insuranceasianews.com/indian-government-to-reduce-stake-in-gic-re-new-india-assurance-report/ Thu, 26 Jun 2025 10:09:11 +0000 https://insuranceasianews.com/?p=193881 Government will divest a 5% stake in New India Assurance Company and 3.5% stake in GIC Re in FY26 to ensure compliance with the minimum public shareholding norms.

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The government of India is planning to divest a 5% stake in New India Assurance Company and a 3.5% stake in GIC Re in FY26 to ensure compliance with the minimum public shareholding (MPS) norms, accord...

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]]> India government may merge some state-owned general insurers: report https://insuranceasianews.com/india-government-may-merge-some-state-owned-general-insurers-report/ Thu, 26 Sep 2024 09:57:50 +0000 https://insuranceasianews.com/?p=163621 Over the last few years, the government has been considering several options for the firms such as mergers, listing, and strategic disinvestment.

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The Indian government may merge one or more of the three non-life insurance companies into The New India Assurance Co. as their listing on the bourses looks bleak, according to a report by the Informi...

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]]> Girija Subramanian takes over as New India Assurance chairperson and managing director https://insuranceasianews.com/girija-subramanian-takes-over-as-new-india-assurance-chairperson-and-managing-director/ Thu, 20 Jun 2024 09:43:00 +0000 https://insuranceasianews.com/?p=156462 She was formerly the CMD of Agriculture Insurance Company of India.

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The Government of India has appointed Girija Subramanian as chairperson and managing director of the New India Assurance Company, a company statement on Thursday said.
She was chairperson and managing...

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]]> India’s FY2024 non-life sector GWP up 13% as motor, health buoy growth https://insuranceasianews.com/indias-fy2024-non-life-sector-gwp-up-13-as-motor-health-buoy-growth/ Wed, 10 Apr 2024 03:36:00 +0000 https://insuranceasianews.com/?p=151247 Gross direct premiums for all Indian non-life insurers in 2023-24 increased to US$34.8bn, according to the latest data released by the General Insurance Council of India.

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The Indian non-life insurance sector grew 13% for the fiscal year ended March 31, 2024, driven by health and motor lines, according to data compiled by the General Insurance Council of India.
The fisc...

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]]> New India Assurance admits NHPC’s Sikkim flood claims https://insuranceasianews.com/new-india-assurance-admits-nhpcs-sikkim-flood-claims/ Thu, 14 Dec 2023 05:10:36 +0000 https://insuranceasianews.com/?p=139376 The state-owned power producer's projects damaged in the flood include Teesta-V Power Station (510 megawatt) and the under-construction Teesta-IV HE project (500 megawatt).

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State-owned New India Assurance (NIA), lead insurer for National Hydro Power Corporation’s Sikkim power projects has admitted claims filed by the insured against losses incurred in early October flash...

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]]> New India Assurance’s underwriting results remain constrained despite improving performance: AM Best https://insuranceasianews.com/new-india-assurances-underwriting-results-remain-constrained-despite-improving-performance-am-best/ Mon, 23 Oct 2023 04:33:48 +0000 https://insuranceasianews.com/?p=136974 The rating agency has affirmed a financial strength rating of B++ (Good) for the Indian state-backed general insurer.

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AM Best expects challenging market conditions to constrain New India Assurance's underwriting results over the medium term, albeit overall operating results are expected to remain profitable.
In the f...

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The post New India Assurance’s underwriting results remain constrained despite improving performance: AM Best appeared first on InsuranceAsia News.

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