| The New India Assurance Company Limited | |
| Traded As: | |
| Founders: | Dorabji Tata |
| Industry: | Insurance |
| Foundation: | [1] |
| Hq Location City: | Mumbai, Maharashtra |
| Hq Location Country: | India |
| Area Served: | India |
| Key People: | Neerja Kapur (Chairman and Managing Director)[2] |
| Owner: | Government of India (85.44%)[3] |
| Revenue: | (2023)[4] |
| Operating Income: | (2023) |
| Net Income: | (2023) |
| Assets: | (2023) |
| Equity: | (2023) |
| Num Employees: | 12,816 (2023) |
The New India Assurance Co. Ltd. (NIA) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Mumbai,[5] it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations.[6] It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973.[7]
Previously, it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company following the passage of the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance became autonomous.
| Class I | 5,426 | 2,220 | 7,646 | |
| Class II | 802 | 34 | 836 | |
| Class III | 5,576 | 1,869 | 7,445 | |
| Class IV (Excluding PTS) | 1,012 | 384 | 1,396 | |
| Part Time Sweepers | 7 | 0 | 7 | |
| Total | 12,823 | 4,507 | 17,330 |
NIA is the only direct insurer in India rated A-(Excellent – Positive outlook) by AM Best. CRISIL reaffirmed its AAA/STABLE rating, indicating that the company has the highest degree of financial strength.[9]