January 29, 2015 12:05 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
General Manager
General Manager and Executive Director
Age: 54
Deputy Company Secretary
Deputy General Manager of Personnel
Compensation as of Fiscal Year 2014.

National Insurance Company Limited Key Developments

New India Assurance (Mumbai), National Insurance (Kolkata), United India Insurance (Chennai) and Oriental Insurance (New Delhi) Plans To Merge

Employee unions of The New India Assurance Company Limited, National Insurance Company Limited, United India Insurance Co. Ltd. and The Oriental Insurance Company Ltd called for merger of all companies to form a single general insurance. Sharad Jadhav, The New India Assurance Company Limited union President, said," During our meeting with the minister and financial services secretary GS Sandhu, we demanded merger of all the four PSU non-life players to form a monolithic corporation, which shall strengthen our market share and help us serve rural and social sectors better. If all the four PSU non-life insurers join together to form a single monolithic corporation, then we can save our premium income to the tune of Rs 10,000 crore annually which will further help boost our profitability."

National Insurance Company Limited, Board Meeting, Jan 26, 2014

National Insurance Company Limited, Board Meeting, Jan 26, 2014.

National Insurance Company Ltd Reports Earnings Results for Fiscal 2013; Provides Premium Guidance for Fiscal 2014; Plans to Open 363 Offices and Business Centres in fiscal 2014

National Insurance Company Ltd. reported earnings results for fiscal 2013. The company reported 18% growth in gross written premium at INR 91,950 million in 2012-13. NIC also witnessed a marginal decline in claims ratio at 86% in 2012-13, against 88% in 2011-12. The company's profit after tax grew by 115% to INR 6,960 million in 2012-13. The 2012-13 results show that the company's business strategies are yielding the desired results. The company aims to achieve 20% growth in premium to INR 110,000 million in 2013-14. The company set up 500 business centres to service the underserved areas in the country, thereby taking NIC's office strength to 1,485 offices. Under the financial-inclusion programme, NIC plans to open 363 offices and business centres in Tier I to IV cities this fiscal 2014.

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