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YEAR EVENTS
1919 - The Company was incorporated at Mumbai.
- The Company transacts all classes of insurance business.
1920 - The Company operates abroad through the network of 16 branches,
12 agencies, 3 associates companies and 1 fully owned subsidiary.
- The New India Assurance Co. (Sierra Leone), Ltd., is a wholly owned
subsidiary of the company.
1958 - 2,37,369 Bonus `A' equity shares issued in the proportion 1:3.
1963 - 1,89,895 Bonus `A' equity shares issued in the proportion 1:5 (equity and
or `A' equity)
1966 - Authorised capital reclassified. 3,79,790 bonus `A' equity shares issued inthe proportion 1:3. (equity and or `A' equity).
1969 - 455,748 bonus equity shares issued in the proportion 3:10.
1973 - The Company became a Government company and a subsidiary of the General
Insurance Corporation of India.
1974 - Capital increased under the New India Assurance Co. Ltd. (Merger) Scheme, 1973.
1976 - 77,01,268 Bonus equity shares issued in prop. 1:1.
1977 - The GIC and its four subsidiaries and the LIC joined hands with local interest in
Malaysia to form a new insurance company in Malaysia viz., "The United Oriental
Assurance Sendirian Behand".
1979 - 65,97,564 bonus equity shares issued in prop. 1:2.
1982 - 1,50,00,000 Bonus equity shares issued in proportion 2:5.
1991 - 2,82,00,000 Bonus equity shares issued in prop. 2.722:5.
2001 - K N Bhandari has taken charge as chairman-cum-managing director of New India
Asurance Company from 5th March.
- New India Assurance (NIA), the largest domestic non-life company independently has effected five promotions to the post of general managers and 11 promotions to the post of assistant general managers in the company for 2000-2001.
2004
-New India Assurance offers healthcare sops to Andhra Bank card holders
-New India Assurance ties up with global major Atradius
-State Bank of India, Bangalore Circle, has announced its tie-up with New India Assurance Company Ltd (NIAC), for distribution of NIAC's general insurance products in Karnataka
- New India Assurance ties up with Central Bank of India for distribution of non-life insurance covers
-Toyota Kirloskar Motor Company and New India Assurance has announced a near cashless insurance service and point of sale insurance for all Toyota vehicles
-New India, AMP Sanmar joins hands for cross-selling products
-Corporation Bank jointly with New India Assurance launches a mediclaim scheme with a cashless facility for the bank's ATM and debit cardholders, called "Corp Mediclaim"
2005
- New India Assurance, as part of a bancassurance tie-up with United Western Bank (UWB), launches a bank specific floater group mediclaim policy known as New Uniwest Mediclaim policy. The product will be available to the family unit - a maximum of four members constituting self, spouse and two dependent children.
2018
-The Company has issued Bonus Shares in the Ratio of 1:1.
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