General Insurance Companies Govt Of India

It was the sole reinsurance company in the indian insurance market until the insurance market was open to foreign reinsurance players by late 2016 including companies from germany switzerland and france.

General insurance companies govt of india. Established in 2008 the general insurance company is licensed with the insurance regulatory and development authority of india irda. 2012 27 royal sundaram general insurance. 1906 22 new india assurance. The oriental insurance company ltd was incorporated in the year 1947.

The union cabinet on wednesday decided to halt the merger process of three state owned general insurance companies national insurance oriental insurance and united india insurance for the. People residing in tamil nadu earning. It was incorporated on 22 november 1972 under companies act 1956. The chief minister s comprehensive insurance scheme is a family floater plan designed for quality health care.

The company provides insurance services to the customers catering to almost all segments of general insurance business. One can claim for hospitalization expenses up to rs. Gic re has its registered office and headquarters in mumbai. Gic re s shares are listed on bse limited and national stock exchange of india ltd.

The insurance provider offers a wide range of general insurance products including health motor home travel etc. At present the company has 105 branches across the nation. As a sole reinsurer in the domestic reinsurance market gic re provides reinsurance to the direct general insurance companies in the indian market. The companies which have been recognized as the government owned insurance companies in india are as follows.

In 2003 all shares of the company held by the general insurance corporation of india were transferred to the government of india. Is a combined amalgamation between the murugappa group and mitsui sumitomo. Select government and private hospitals are a part of this scheme. It is promoted by tamil nadu government in association with united india insurance company ltd.

2000 25 reliance health insurance private mumbai. 1919 23 raheja qbe general insurance private mumbai. Users can access details on the public sector companies such as the new india assurance company ltd national insurance company ltd the oriental insurance co ltd united india insurance co ltd. 2007 24 reliance general insurance.

80 000 crores for 2018 19. Gic re or gic of india is a state owned enterprise in india. General insurance corporation of india since 1972. 5 lakhs under this policy.

The authorized capital and paid up equity capital of the company is rs 200 crore. Life insurance corporation of india general insurance corporation of india national insurance co. Details of private insurance organizations are. And agricultural insurance company ltd.

Besides the company. Cholamandalam ms general insurance company ltd. These companies are owned by government of india and the government has plans to merge them for increased profitability and operational feasibility. The company has 1924 offices in the country and has employee strength of 13923 as on 31 03 2016.

Oriental india insurance company national insurance company and united india insurance company are three public sector general insurance companies. Cholamandalam ms general insurance.