New India Assurance Co Ltd Rating

Can you tell me about the raking, ranking and awards received by New India Assurance Co Ltd as I am planning to make an investment in it so wanted to know the details first, please help me with this?

[Pathak]

New India Assurance Co Ltd is a 100 % Govt owned multinational general insurance company operating in 28 countries and headquartered at Mumbai, India, founded by Sir Dorabji Tata in 1919.

Its global business crossed Rs.16000 Cr and Indian business touched Rs 13209 Cr in 2014-15. It is the only direct insurer in India rated A-(Excellent – Stable outlook) by AM Best. CRISIL has reaffirmed its ' AAA/STABLE ' rating on it indicating that the company has the highest degree of financial strength to honor its Policyholders obligations.

For the sixth consecutive year, the Company has been rated as "A-" (Excellent) by M/s. A.M. Best Europe Ltd. The rating reflects Company's excellent risk adjusted capitalization, prospective improvement in underwriting performance and its leading business profile in the direct insurance market in India.

A partially off-setting factor is the Company's reliance on investment income which counter balances underwriting losses. But the outlook is stable. A.M. Best believes the Company's risk adjusted capitalization is excellent and anticipates that it will remain sufficient to absorb the likely growth in the net premium.

Further it also expects that there will be a reduction in the combined ratio in the years to come. The Company is likely to maintain its leading business position as the largest direct insurer in India, despite increased competition from private players.

New India Assurance was selected as the General Insurance Company of the year in the 6th Fintelekt India Insurance Awards in 2015.

"THE BEST GENERAL INSURANCE COMPANY " consecutively for the third time in 6th Dalal Street Investment Journal PSU Award at Delhi.

It has emerged as India’s Best General insurance Company for MSMEs, from a Nationwide Survey & Analysis of Small & Medium Enterprises, in 2013-14 conducted by India SME Forum.

It has received three awards at the 4th Indian Insurance Awards organized by Fintelekt at a grand function held at Mumbai in 2014.

1)Personal Lines Growth Leader 2)Underserved Market Penetration 3)Technology Maturity New India has received the Platinum Award for Excellence in General Insurance at the 36th SKOCH Summit on 21 June 2014 at Delhi NIA has been selected for Prestigious Indira Gandhi RajBhasha Puraskar for outstanding performance in implementation of the official language - Hindi.

J.D Power Asia Pacific part of McGraw Hill Companies has ranked it, the highest in satisfying auto insurance customers. The award relates to 2011 India Auto Insurance Customer Satisfaction Index Study wherein out of a 1000-point scale, the company scored 804.