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August 30, 2015 11:38 PM ET

Insurance

Company Overview of National Insurance Company Limited

Company Overview

National Insurance Company Limited provides general insurance for urban and rural customers in India. It provides two wheeler, house and household goods, personal accident, critical illness, NRI accident, education, women, girl child, traffic accident, housing loan, baggage, Mediclaim, private car, doctors professional indemnity, health, students health and personal accident, health cum accident, senior citizens, overseas Mediclaim, cattle/livestock, sheep and goat, elephant, dog, brackish water prawn, silkworm, horticulture/plantation, agriculture pumpset, erection all risks, contractors all risks, machinery, electronic equipment, consequential loss, standard fire and special perils, workme...

3 Middleton Street

Kolkata,  700071

India

Founded in 1906

Phone:

91 22 831 705

Fax:

91 22 831 712

Key Executives for National Insurance Company Limited

Chairman of the Board, Managing Director, Chairman of Investment Committee, Chairman of Risk Management Committee, Chairman of Policyholder Protection Committee, Chairman of It Committee and Chairman of Hr Committee
General Manager, Executive Director and Member of Audit Committee
General Manager and Executive Director
Age: 55
Deputy Company Secretary
Deputy General Manager of Personnel
Compensation as of Fiscal Year 2015.

National Insurance Company Limited Key Developments

Competition Commission of India Imposes Penalty on New India Assurance, National Insurance, United India Insurance and Oriental Insurance

The Competition Commission of India has imposed a total penalty of INR 6,710.5 million on four state-run insurance companies for manipulating the bidding process initiated by Government of Kerala for selecting insurance service provider for Rashtriya Swasthya Bima Yojna for the years 2010-2011, 2011-2012 and 2012-2013. Competition Commission has imposed a penalty of INR 2,510.7 million on New India Assurance, INR 1,628 million on National Insurance, INR 1,566.2 million on United India Insurance and INR 1,005.6 million on Oriental Insurance. The final order was passed by CCI on July 10 in a matter which was taken up suomoto pursuant to an anonymous information received by the Commission under section 19(1) of the Competition Act, 2002 against National Insurance, New India Assurance, Oriental Insurance and United India Insurance alleging contravention of the provisions of section 3 of the Act which deals with anti-competitive agreements including bid rigging. The Commission noted the impugned conduct of these companies to have resulted in manipulation of the bidding process in contravention of various provisions of the Act. While imposing penalties, the Commission noted that the present case related to bid rigging in public procurement for social welfare schemes, the beneficiaries of which were BPL and poor families and as such the same was taken as an aggravating factor.

National Insurance, Board Meeting, Jul 15, 2015

National Insurance, Board Meeting, Jul 15, 2015.

National Insurance, Board Meeting, Mar 26, 2015

National Insurance, Board Meeting, Mar 26, 2015.

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