The New India Assurance Co. Ltd (NIA) is the oldest (in operation for almost a century) and largest general insurance company in India. The company was nationalized by the GoI on January 1, 1974. The President of India, acting through the MoF is the promoter of the company and holds 100% of the pre-Offer paid-up Equity Share capital of the company.
NIA offers insurance in categories including fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products.
NIA is the market leadership in the general insurance industry in India across the segments except crop insurance.
Company has built an multi-channel distribution network that includes individual and corporate agents, brokers, bankassurance partners and other intermediaries, as well as direct sales and sales through online channels. Company’s distribution network includes 68,389 individual agents and 16 corporate agents, 25 banks, and a large number of OEM and automotive dealer.
New India Assurance is rated A-(Excellent) by AM Best Company since 2007 and have been rated AAA/Stable by CRISIL since 2014.
1. Market leadership and established brand for around 100 years.
2. International operations since 1920. Presence in UK with a desk at Lloyd‘s, London. Also have operations in Japan and Australia for over 50 years.
3. Diversified product offering.
4. Strong relationship with reputed reinsurers.
5. Expansive multi-channel distribution network.
6. Robust IT infrastructure
The New India Assurance Company Limited IPO Stock Quote & Charts
- Open: 152.40
- High - Low: 159.40 - 148.55
- Previous Close: 151.85
- Total Traded Volume: 823405
- Updated On: 13-Nov-2019
Objects of the The New India Assurance Company Limited IPO:
Fresh Issue Company proposes to utilize the Net Proceeds towards meeting our future capital requirements which are expected to arise from the growth and expansion of our business, improving our solvency margin and consequently our solvency ratio.
The New India Assurance Company Limited IPO Details:
||Nov 01 2017
||Nov 03 2017
|| ₹ 5 Per Equity Share
||Book Built Issue IPO
|| ₹ 770-800 Per Equity Share
||Nov 13 2017
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