National Insurance: National Insurance was founded in 1906 where the company became a subsidiary of GIC or General Insurance Corporation of India owned by the India Government. After the notification given by General Insurance Business Amendment Act, 7th august 2002, National Company has been removed from GIC and is presently operating under the guidance of Government of India.
The company is considered as one of the finest insurance companies in the public sector excelling in non life insurance businesses. NIC’s skilled personnel reaching up to 16000 offer financial advice from around 1000 offices in India.
The offices are spread over remote areas, metropolitan cities and towns in the country with the foreign operations carried out from Nepal.
The company serves about 14 million customers with a range of over 200 policies catering to different insurance requirements. National Insurance has a growth of 4021.97 million rupees in the financial year 2007-2008.
The company takes pride in offering services in areas of Banking, telecom, Shipping, Aviation, Power, Oil and Energy, Plantations, Agronomy, Information Technology, Foreign Trade, Tea, Healthcare, Education, Automobile, Space Research, Environment and so on.
National Insurance is considered as the second largest non life insurer in Northern and Eastern India.The company has bagged the “AAA/STABLE” financial strength rating by CRISIL which emphasizes that the financial strength to meet policyholder’s requirements is of the highest standards.
National Insurance has maintained the reliability with the help of ties with commercial banks, Non Banking Financial Institutions, Automobile Manufacturers, NGOs and State Governments for marketing its Insurance services.
Apart from the mentioned services, NIC also provides the conventional insurance schemes, like marine, indemnity against fire, and so on to its policy holders. The main agenda of this company is to sustain the trust gained by customers and providing value added services for the betterment of the society.
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