New India is a leading global insurance group having a network of 1900+ offices spread over 25 countries in 5 continents.
New India has over 104 years experience in providing a wide range of General Insurance products globally. New India as an Indian and multi-national organization is particularly reputed for its focus and emphasis on customer service, wide product range and financial strength….
Financial Strength : “B++” Good rating by A.M. Best
Recognized for the highest levels of customer service
Presence in 25 countries across 5 continents
Govt of India Undertaking
Pioneer in Satellite Insurance
Rating Scale of A M Best Company
A++, A+ Superior A, A- Excellent
B++, B+ Good B, B- Fair
C++, C+ Marginal C, C- Weak
D Poor E Under Regulatory Supervision
F In liquidation S Suspended
As at 31 Dec. 2023, The New India Assurance Co. Ltd. Actual Solvency Capital is higher than the Minimum Solvency Capital meeting the requirements of Section 64VA of the Insurance Act, 1938 (Republic of India). The currency conversion rates applied to the below Actual and Minimum Solvency Capital and Solvency Margin are: NZ$1 = Rs 52.62 as at 31 Dec. 2023 and NZ$1 = Rs 49.86 as at 30 Sept 2023.
| 31 Dec 2023 Rs (billions) NZ$ (billions) | 30 Sep 2023 Rs (billions) NZ$ (billions) |
|
|---|---|---|
| Actual Solvency Capital | 170.92 3.248 | 164.16 3.292 |
| Minimum Solvency Capital | 99.61 1.893 | 96.59 1.937 |
| Solvency Margin | 71.31 1.355 | 67.57 1.355 |
| Solvency Ratio | 1.72 1.72 | 1.70 1.70 |
Established by Sir Dorab Tata in 1919, New India is the first fully Indian owned insurance company in India.