The New India Assurance Company Share price

The Company was incorporated as ‘The New India Assurance Company Limited’ on July 23 1919 at Mumbai Maharashtra India as a limited company under the Indian Companies Act VII of 1913 with the Registrar of Companies. The Company obtained the certificate of commencement of business on October 14 1919. Pursuant to the 1973 Scheme which came into force on January 1 1974 the Company was nationalized by the GoI. The Company is registered with IRDAI for carrying out the business of general insurance.  Major events and milestones 1919- The Company was incorporated as a limited company with an authorised share capital of Rs. 200000000. 1920- The Company commenced operations in London. 1956- The Company transferred its life insurance business to the Life Insurance Corporation of India which was formed under the Life Insurance Corporation Act 1956 pursuant to which life insurance business in India was nationalised.1973- The General Insurance Corporation of India was formed under the General Insurance Business (Nationalisation) Act 1972 which provided for nationalisation of general insurance business in India. The Company became a subsidiary of the General Insurance Corporation of India after the GoI transferred its entire shareholding in general insurance companies to the General Insurance Corporation of India.1974- The New India Assurance Company Limited (Merger) Scheme 1973 which was framed by the Department of Revenue and Insurance Ministry of Finance GoI under the General Insurance Business (Nationalisation) Act 1972 became effective.2003- Pursuant to the General Insurance Business (Nationalisation) Amendment Act 2002 the General Insurance Corporation of India transferred its entire shareholding in the Company to the GoI.2012- The Company crossed premium of  Rs. 100000 million during 2011-12.2016- The Company received the approval for opening an office at Gujrat International Finance Tec-City Gandhinagar.2017- The Company crossed premium of Rs. 200000 million during 2016-17Awards and Accreditations2014- The Company won the “Golden Peacock Award” for “Excellence in corporate governance” - The Company won the “The Indian Insurance Award” for “Personal Lines Growth Leader” “Underserved Market Penetration” and “Technology Maturity”- The Company won the “India’s SME Forum” award for “Best Insurer”- The Company won the “Dalal Street Investment Journal PSU Award” for “The Best General Insurance Company of the Year”2015- The Company won the “Samudra Manthan Award” for “Insurance Company of the Year”- The Company won the “Outlook Money Award” for “Best Health Insurer”- The Company won the “The Indian Insurance Award” for “General Insurance Company of the Year” “Commercial Lines Growth Leadership - General Insurance” and “Claims Service Leader- General Insurance”- The Company won the “Dun & Bradstreet PSU Award” for “Insurance (General)”2016- The Company won the “Dun & Bradstreet PSU Award” for “Non-Life Insurance”- The Company won the “Golden Peacock Award” for “Innovative Product/ Service”- The Company won the “Golden Peacock Award” for “Excellence in Corporate Governance”- The Company won the “The Indian Insurance Award” for “General Insurance Company of the Year” “e-Business Leader in General Insurance” and “Under Served Market Penetration – General Insurance”- The Company won the “ABP News Award” for “Best General Insurance Company”2017- The Company won the “Golden Peacock Award” for “Business Excellence”- The Company won the “Insurance India Summit Award” for “Insurance Company of the Year”- The Company won the “Dun & Bradstreet BFSI Award” for “India’s Leading Insurance Company - Non-Life (Public Sector)”- The Company won the “Fintelekt Insurance Awards” for “Personal Lines Growth Leadership (Public Sector) General Insurance” “e-Business Leader (General Insurance)” “Social Inclusion (Public Sector) General Insurance” and “Claims Service Leader (General Insurance)”.