New India Assurance

After Bajaj Allianz, New India Assurance gets into surety bonds business

Surety bonds can help smaller infra developers compete with larger, more established ones for bigger contracts, the company said

No sub-limits in policy? Avg clause can't apply

According to the National Commission, the average clause couldn't apply since the policy didn't have individual coverage limits for building, stock, and packaging material

GIC Re, New India Assurance extend rally; surge up to 40% in one month

On Monday, shares of General Insurance Corporation hit a fresh 52-week high at Rs 182.65, up 10 per cent; New India Assurance rallied 8 per cent.

Non-life insurance industry reports a 21% YoY growth in premiums in June

In the June quarter, the non-life insurance industry netted premiums to the tune of Rs 54,492 crore, up 23 per cent YoY

Govt-owned insurers go for organisational rejig, look for consultants

Four general insurers have decided to restructure the organisation towards profitable growth and have called for Request for Proposal (RFP) from consultancy firms

Claim not payable if policy conditions are flouted

The National Commission observed that the requirement of first-class construction was mentioned in the cover note and the policy, so stock kept elsewhere wouldn't be covered

Madhulika Bhaskar of GIC Re named acting chairman of New India Assurance

The position of CMD of New India has been lying vacant since former chairman Atul Sahai retired on February 28

Govt to soon decide on giving additional charge of New India Assurance CMD

Banks Board Bureau, the headhunter for state-owned banks and financial institutions, is the advisory body formed by the government in 2016 for selection of candidates for top-level board appointments

New India on hiring drive, uncertainty continues for other 3 non-life PSUs

Even as The New India Assurance Company Ltd is on a massive recruitment drive, suspense continues in the case of the remaining three government owned non-life insurers, said industry officials.

Non-life insurers record 6.7% growth in gross premiums in January

This comes after a double-digit growth in premiums in December and low single-digit growth in November, preceded by contraction in September and October

Fidelity clause covers all employees

In a recent case, National Commission observed that the policy defined an employee to include officers, clerks, servants and other employees

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

LIC, GIC, New India Assurance systemically important insurers: IRDAI

The three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture, IRDAI said in a statement

Top headlines: Vodafone wins case against govt, Harley in talks with Hero

From Vodafone International winning arbitration case against govt to Election Commission announcing Bihar poll dates, Business Standard bring you top news of the evening

New India Assurance to insure health workers engaged in coronavirus fight

The special insurance scheme would be a group personal accident policy, which includes accidental loss of life on account of contracting the deadly virus.

New India Assurance settles insider trading norms violation case with Sebi

The move comes after the insurer filed an application proposing to settle

New India Assurance vs ICICI Lombard: Size fails to beat profitability

With segments such as motor, health, fire and crop insurance being the stronghold of both players, they have nearly the same product profile

New India Assurance profit up 61% in September quarter at Rs 530 cr

There is slow down in motor segment and provisions towards bad debts and diminution in value of certain equity investments further impacted profitability by Rs 40 crore in the quarter

AIC enters coinsurance deal with 3 public sector insurance firms for PMFBY

Under the scheme, while AIC will use offices, manpower and rural reach of the three companies, it will offer 12.5 per cent of the premium collected to each of the three companies

Atul Sahai appointed as New India Assurance CMD for a 5 year term

The post has been vacant since July 2018 after former CMD G Srinivasan retired