Wednesday, 2 March 2016

Filled Under:

Insurance Companies

#insurance
✨✨Public Sector Insurance Companies -
👉Life Insurance Corporation of India
👉General Insurance Corporation of India
👉National Insurance Co. Ltd.
👉Oriental Insurance Co. Ltd.
👉New India Assurance Co. Ltd.
👉United India Insurance Co. Ltd.

➡Life Insurance Corporation of India
Headoffice - Mumbai
Chairman - Shri S. K. Roy
The Parliament of India enacted the Life
Insurance Corporation Act on the 19th of June
1956, and the Life Insurance Corporation of
Indian was established on 1st September, 1956,
with the objective of spreading life insurance
much more widely and in particular to the rural
areas with a view to reach all insurable persons in
the country, providing them adequate financial
cover at a reasonable cost.


➡General Insurance Corporation
Headoffice - Mumbai
Chairman - Mrs. Alice G. Vaidyan
General Insurance Corporation of India (GIC Re)
was approved as 'Indian Reinsurer' on 3rd
November,2000. As an Indian reinsurer GIC has
been giving reinsurance support to four public
sector & other private general insurance
companies.


➡The New India Assurance Co. Ltd.
Headoffice- Mumbai
Chairman - G.Srinivasan
It is the "largest general insurance company of
India on the basis of gross premium collection
inclusive of foreign operations". It was founded by
Sir Dorabji Tata in 1919, and was nationalised in
1973.


➡National Insurance Company Limited (NICL)
Headoffice- Kolkata
Chairman - Shri A.V. Girija Kumar
It is a state owned general insurance company in
India. The company was established in 1906 and
nationalised in 1972. It's portofolio consists of a
multitude of general insurance policies, offered to
a wide arena of clients encompassing different
sectors of the economy.[3] Apart from being
leading insurance provider in India, NICL also
serves Nepal.


➡United India Insurance Company Limited
Headoffice - Chennai
Chairman - Milind Kharat
Under Department of Financial Services, Ministry
of Finance (India), is a public sector General
Insurance Company of India and one of the top
General Insurers in Asia. With the net worth of Rs
5407 crores and profit of Rs 528 crores, the
company has collected gross premium of Rs 9709
crores as of in the financial year 2013-14. The
company has more than seven decades of
experience in Non-life Insurance business and was
formed to its present form by the merger of 22
companies, consequent to the nationalisation of
General Insurance companies in India.


➡Oriental Insurance Company Ltd
Headoffice - New Delhi
Chairman - Dr. A.K.Saxena
It was established on September 12, 1947 in the
then Bombay. It was a completely owned subsidiary
of Oriental Government Security Life Assurance
Company Ltd. It was created with the mandate of
executing its parent body's general insurance
operations.

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