NIACL

In 1919, the company was being incorporated at Mumbai. It also transacts all classes of the insurance business. In 1920, it started to commence the operations overseas via the network of 16 branches, 12 agencies, three associates companies, and one wholly-owned subsidiary. Also, the New India Assurance Co. (Sierra Leone), Ltd., is a wholly-owned subsidiary of the company.

Some of the Milestones:

1958: About 2, 37,369 Bonus `A' equity shares were issued in the proportion 1:3.
1963: About 1, 89,895 Bonus `A' equity shares were issued in the proportion of 1:5 (equity and or `A' equity).
1966: Also, the authorized capital was reclassified. About 3, 79,790 bonus `A' equity shares were issued in the proportion 1:3. (Equity and or equity).
1969: About 455,748 bonus equity shares were issued in the proportion of 3:10.
1973: It also became a Government company and a subsidiary of the General Insurance Corporation of India.
1974: Soon, the capital increased under the New India Assurance Co. Ltd. (Merger) Scheme, 1973.
1976: About 77, 01,268 Bonus equity shares were issued in prop. 1:1.
1977: The GIC and its four subsidiaries and the LIC also joined hands with local interest in Malaysia to form a new insurance company in Malaysia named as, "The United Oriental Assurance Sendirian Behand."
1979: About 65, 97,564 bonus equity shares were issued in prop. 1:2.
1982: About 1, 50, 00,000 Bonus equity shares were issued in proportion 2:5.
1991: About 2, 82, 00,000 Bonus equity shares were issued in prop. 2.722:5.
2001:
Also, K N Bhandari took charge as chairman-cum-managing director of New India Assurance Company since 5th March.
NIA or New India Assurance, which is the largest domestic non-life company independently, has effected five promotions to the post of general managers and also 11 promotions to the post of assistant general managers in the company for 2000-2001.
2004:
Also, the New India Assurance offers healthcare sops to Andhra Bank cardholders.
It tied up with major global Atradius.
Also, State Bank of India, Bangalore Circle, announced its tie-up with New India Assurance Company Ltd (or NIAC), for the distribution of NIAC's general insurance products in Karnataka.
It tied up with the Central Bank of India for the distribution of non-life insurance covers.
Both Toyota Kirloskar Motor Company and New India Assurance announced a near cashless insurance service and point of sale insurance for all the Toyota vehicles.
Also, New India, AMP Sanmar joined hands for cross-selling products.
The Corporation Bank joined hands with the New India Assurance, and launched a mediclaim scheme with a cashless facility for the bank's ATM and debit cardholders, known as "Corp Mediclaim."
2005: Also, New India Assurance, which is a part of a bancassurance tie-up with United Western Bank (or UWB), launched a bank-specific floater group mediclaim policy known as the New Uniwest Mediclaim policy. Also, the product would be available to the family unit, which is a maximum of four members constituting self, spouse, and two dependent children.

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