Chennai rains will cost this insurance company around Rs 500 crores

Chennai rains will cost this insurance company around Rs 500 crores

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

New India Assurance to expand biz to Asia, Africa, N America

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.

PSU general insurers on promotion spree, elevates 21 DGMs to GMs

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.

CCI imposes Rs 671 crore fine on four state-run insurers

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.

New India launches 3-year insurance cover for two wheelers

New India Assurance, country's largest non-life insurer has launched a three-year policy package for two wheelers, a first of its kind product in the industry.

New India Assurance launches insurance products in Dubai

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

Federal Bank ties up with New India for cheaper accident cover

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.

New India to launch four new products in FY16

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

New India eyes Rs 18K cr total premium in 2015-16

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.

BoI raises Rs 641 cr from share sale to LIC, New India Assurance

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.

IBA, insurers to meet soon on new insurance, pension schemes

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.

BoI shares up over 4.5% on fund raising plan

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.

Air India renews insurance for $26.75 million at 15% premium

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.

United India Insurance keen to re-enter overseas markets

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.

New India Assurance to open regional hub in Dubai

Middle East, particularly Gulf Cooperation Council (GCC), is a significant market for us and our focus will now be to increase our presence in this market and grow our business by offering our products to a multinational clientele in the region.

New India Assurance says renewal rates remain flat

Largest general insurer New India Assurance has started off the fiscal on a flat note with rates of renewal premium, which constitutes a significant chunk of their income, remaining stagnant and reinsurance rates declining up to 10 percent.

Bharatiya Mahila Bank sets up branch in Bihar

The access to finance and banking services being provided by the BMB would empower women and broaden their social base of development for equitable growth she said.

New India Assurance awaiting "final" decision from IRDA

Public insurer New India Assurance is awaiting a "final decision" from the Insurance Regulator Development Authority (Irda) on third-party motor insurance segment to curb mounting losses from the segment.

Health insurance plan for families with girl children launched

Government-run general insurer New India Assurance on Friday launched a special health insurance scheme for families with girl children.

New India Assurance eyes 20% growth next year

State-run New India Assurance is hoping for a healthy growth in 2014 on the back of better auto sales, uptick in investments and rural demand, a top company official said Friday.