National Insurance Company Ltd.
National Insurance Company ltd was incorporated in 1906 with its registered
office in Kolkata. After nationalization in 1972, it was merged with 21 foreign
and 11 Indian companies and it then became a subsidiary of the General Insurance
Corporation of India. National is now a government of India undertaking, and a public
sector company insurance company carrying out non-life insurances across India,
with a network of about 1000 offices, and an employee strength of over 16,000. NIC
has its foreign offices in Nepal and Hongkong. NIC has a wide customer base of about
10 million customers and more than 180 policies to offer to them.
The paid-up share capital of NIC is Rs. 100 crores. It started off with a premium
base of 500 million rupees in 1974 and currently it has risen to 35236.7 million
rupees in 2005-06. NIC operates in fields of fire, marine and miscellaneous insurance.
It covers almost every sector of the Indian economy, catering to all the needs of
its customers. It deals in telecom, banking, shipping, information, technology,
aviation, power, education, environment, agronomy, plantations, healthcare, foreign
trade, space research and so on.
Although NIC has almost spread itself throughout the country successfully,yet it
has most of its business in northern and eastern India and is hence the leader of
the market in these two areas. The company has been accorded the “AAA/STABLE” financial
strength rating by CRISIL rating agency. It is one of the fastest growing non-life
insurance companies in India and is recognised as one of the top 5 general insurance
in Asia Pacific.
- Personal Life Insurance
- Personal Accident
- Critical Illness
- Amartya Siksha Yojana
- Householders' Niwas Yojana
- Rural Line Insurance
- Industrial Line Insurance
- Erection All Risk Insurance
- Contractor's All Risk Insurance
- Fire Policy
- Machinery Insurance Policy
- Electronic Equipment Insurance Policy
- Consequential Loss Policy
- Commercial Line Insurance