New India has been operating in the Kingdom since 1981 and with Insurance Brokers, M/s. United International Co. Ltd. as general agents for the past 12 years.

“New India has professionals to advise on a wide range of insurance covers required by various customers,” resident manager of the New India Assurance Company Ltd. G.V. Ramana told Arab News adding that the company also offers global reinsurance facilities for its clients. “During the years, we have devised tailor-made policies for the Indian community in Saudi Arabia by providing policies such as Motor Insurance and Shopkeepers’ Umbrella Insurance.

New India has three centers in the principal cities of Riyadh, Jeddah and Alkhobar where various types of insurance services are offered to its clients. In the region , the company operates in Bahrain, Dubai, Abu Dhabi, Muscat, Kuwait. “These offices are growing to keep abreast of the economic developments of respective GCC countries.

The company underwrites all classes of insurance property, marine, liability and engineering. They include fire, burglary, motor, marine cargo, cash in transit, cash in safe, fidelity guarantee, contractors all risks, contractors plant and machinery, comprehensive general liability etc. New India is also underwriting health insurance for groups.

Established in 1919, by Sir Dorab Tata, New India was the first fully Indian-owned insurance company.

New India has been a pioneer among the Indian companies on numerous fronts, from insuring the first domestic airline in 1946 to satellite insurance in 1990. The latest addition to the list of firsts is the insurance of the INSAT-2E.

With a wide range of policies, its corporate belief — “Service — Gateway to Growth” has led the company to become the largest non-life insurance company not only in India, but also in the Afro-Asian region excluding Japan.

New India has historically been a frontrunner in several diverse fields of business and industrial activity. New India is the lead underwriters of India’s space program having insured several INSAT and other satellites. The company pioneers in engineering insurance, financial risks insurance and it is now offering customized risk management solutions to its corporate clients in the private and public sectors in power, telecom, petrochemicals, steel and automobile industries. It is the first non-life Indian Insurance company to cross the $1 billion mark in premium income.

The company services the subcontinent with a network of 1,111 offices, comprising 26 regional offices, 397 divisional offices and 644 branches and 39 direct agent branches. With more than 20,000 employees, the company has the largest number of specialized and technically qualified personnel at all levels of management, who are empowered to underwrite and settle claims of high magnitude. Although, India has opend up the market for private players, with its great strength in all areas of functioning, it is forging ahead as a leading and largest general insurance company in India.

New India’s foreign operations started with the establishment of an office in London, in 1920. In the words of its founder chairman, Dorab Tata, “The New India constitutes the commencement of a new and large commercial undertaking for India. It is not a Bombay Insurance Company, or a company working solely in India, but may claim to be a worldwide company. “The Company lived up to this visionary statement. Its international presence was built up by New India, as a directly writing company in 23 countries spanning five continents through a network of 18 branches, 12 agencies, two associate companies and one fully-owned subsidiary. It increased its reach and capacity, for reinsurance facilities for all classes of business.

The company had been rated A (Excellent) by M/s A.M. Best (Europe) Company Ltd. for the fourth consecutive year. The rating reflects new India’s excellent capital position, its maintenance of leading position in the Indian nomestic insurance market and substantial returns from its conservative investment portfolio. ‘New India’ is the only Indian company to be rated by an International Credit Rating Agency, thereby placing it at par with other top international insurers and reinsurers.

The company has assets worth $2.87 billion, investments $1.96 billion and capital & reserves $1.26 billion.