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New India Assurance

New India Assurance Company Limited

87Score

★★★☆☆3.2

Customer satisfaction · 87.5M members

IRDAI: Largest Public Sector General Insurer(2025)

New India Assurance is India's oldest and largest general insurance company, founded in 1919 by Sir Dorabji Tata and nationalized in 1973. With 100% government ownership, 1,600+ offices, and multinational presence in 28+ countries, it is a cornerstone of India's insurance sector.

Overall Score

87/100

Founded

1919

Headquarters

Mumbai

Type

public

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Key Metrics

Claim Settlement Ratio

~85-90%

Network Hospitals

3,000+

Offices

1,600+

International Presence

28+ countries

Editorial Ratings

IRDAI: Largest Public Sector General Insurer(2025)

Rating: CSR ~85-90%; India's largest public sector general insurer (max: 100%)

87IRDAI

Coverage Highlights

✓Oldest and largest general insurance company in India
✓1,600+ offices across the country
✓3,000+ network hospitals
✓Government-backed financial stability
✓Multinational presence in 28+ countries

Pros

✓Government-backed — no risk of insolvency
✓Extremely wide office network
✓Affordable premiums, especially for government employees
✓Multinational presence

Cons

✗Bureaucratic claim processes — slower than private insurers
✗Smaller network hospital count compared to private players
✗Digital infrastructure less advanced
✗Higher complaint resolution times

Frequently Asked Questions

Is New India Assurance a government company?

Yes. New India Assurance is 100% owned by the Government of India. It was founded in 1919 by Sir Dorabji Tata and nationalized in 1973.

What is New India Assurance's claim settlement ratio?

New India Assurance's claim settlement ratio is approximately 85-90%, varying by year and product line.

Does New India Assurance operate internationally?

Yes. New India Assurance has a multinational presence in 28+ countries, making it India's premier multinational general insurance company.

How many network hospitals does New India Assurance have?

New India Assurance has 3,000+ network hospitals, which is smaller than many private insurers but supported by 1,600+ offices across India.

Quick Summary

InsurerNew India Assurance

Country🇮🇳 India

Overall Score87/100

Satisfaction3.2/5

Members87.5M

Typepublic

Founded1919

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