New India Assurance News

For the quarter under review, the firm has earned a total income of Rs 5,900.68 crore up from Rs 4,729.18 crore earned during the corresponding quarter of the previous year.

In terms of equity volume, 4.30 lakh shares of the company were traded on BSE and over 25 lakh shares changed hands on NSE during the day.

In view of the current market condition, the government may easily get Rs 15,000 crore by diluting stake in these two companies, sources said, adding it could be upwards of Rs 15,000 crore.

The company has done away with the rate differential based on region and introduced a uniform rate across the country.

Insurance regulator Irdai has slapped a penalty of Rs 15 lakh on public sector general insurer New India Assurance Co Limited for violating various insurance norms

The city-based company has received 1,700 claims from Chennai, Cuddalore, Thiruvallur and Kancheepuram districts.

New India Assurance (NIA), the largest non-life insurer in the country, has charted out its global expansion plans that include areas like Asia, North America and Africa.

In their bid to take on rising competition, public sector general insurers have unveiled a succession planning by promoting their young officials to the post of general managers.

Competition Commission has imposed a penalty of Rs 251.07 crore on New India Assurance, Rs 162.8 crore on National Insurance, Rs 156.62 crore on United India Insurance and Rs 100.56 crore on Oriental Insurance, respectively.

The New India Assurance Company Ltd has launched health insurance products catering to individuals and families in Dubai and Northern Emirates.

South-based private sector lender Federal Bank on Wednesday entered into a pact with state-run general insurer New India Assurance (NIA) for providing cheaper accident cover to its savings bank account holders.

State-owned New India Assurance is planning to launch four products - two each in the motor and health segments - during the current fiscal.

India's largest non-life insurer New India Assurance has set the bar high as it aims to cross the Rs 18,000-crore mark in global premium.

Public sector lender Bank of India (BOI) on Friday said it has raised over Rs 641.99 crore by issuing shares on preferential basis to LIC and New India Assurance.

The umbrella lobby group of the lenders, Indian Banks Association (IBA), is likely to convene a meeting with insurers shortly to discuss the implementation of the various insurance and pension schemes announced in the Budget.

Shares of Bank of India (BoI) today rose by over 4.5 per cent after the company said it will raise up to Rs 641.99 crore by selling shares to Life Insurance Corp and New India Assurance to fund its business growth and meet global risk norms.

Despite hardening insurance market for airlines globally following some major tragedies this year, national carrier Air India has been able to renew its cover with just 15 percent rise in premium for its 132- aircraft fleet.

Public sector general insurer United India Insurance has said it is looking to re-enter the overseas markets and will soon carry out a feasibility study to assess the business potential.