National Insurance Company Limited

National Insurance Company Limited (NICL), a Government Owned General Insurance Corporation of India was incorporated in 1906 and headquartered in Kolkata. This insurance company was the first public sector GIC to introduce customized insurance products to both corporate and rural customers. Its specialized Techno Marketing Project Cells help to deliver policies to suit the needs of agrarian customers.

It’s the first insurer who entered into Strategic Alliances with the Hero Moto Corp, Maruti, and many others. These business tie-ups at the corporate level help bring a major transformation in Services Delivery to customers in Motor insurance. NICL has established its wide PAN India presence with 1998 offices (in India & Nepal) and a skilled workforce of about 15000 personnel. National Insurance Company Limited is India’s 2nd largest non-life insurers (on the basis of its gross direct written premiums).

Motor insurance is a major segment in the Insurance Industry and NICL is the key player in the motor insurance market. NICL had received a premium of Rs 11282.64 crore in FY’15 and achieved its highest profit before tax of Rs 1196.74 crore. Its Investment Income raised to Rs 2654 crores from Rs 2263 crores in the previous year. National Insurance Company Limited receives B++ (Good) from A.M. Best’s financial strength ratings and bbb+ A.M. Best’s issuer credit ratings. The latest Incurred Claims Ratio (ICR) of National Insurance Company for FY 2018-19 is 109.94%.