General Insurance · IRDAI Data
New India Assurance Company
New India Assurance Company is India's largest general insurer and the only public sector general insurance company listed on Indian stock exchanges. Founded in 1919, it is fully owned by the Government of India through the Ministry of Finance. With operations in 28 countries, it is among the oldest and most trusted names in Indian insurance. Its health segment reported a claim settlement ratio of approximately 91% in 2023-24.
GENERALICR 91.10% · FY2023-24Mumbai
ICR FY2023-24
91.1%
3,12,400 settled
Pros & Cons
Pros
- ✓Oldest and largest public sector general insurer — government-backed
- ✓Mediclaim policy — one of India's most widely held health plans
- ✓Accepted at virtually all government and major private hospitals
- ✓Lower premiums compared to private sector equivalents
- ✓Floater policies available for families at competitive rates
Cons
- ✕Claim processing can be slower than private digital insurers
- ✕Older IT systems — less digital claim filing convenience
- ✕Room rent and disease-specific sub-limits in base Mediclaim plan
Complaint Data
Complaints / 10K
18.3
FY2022-23
Grievance Disposal
96.8%
How does New India Assurance compare?
Side-by-side CSR, complaints, and grievance data.