B. Chakrabarti

National Insurance Co. Ltd. (NIC) is a state-owned insurance firm which was founded in 1906. The firm was formerly a subsidiary of General Insurance Corporation of India (GIC), a wholly-owned subsidiary of the Government of India, but was de-linked from GIC in 2002. NIC is headquartered in Kolkata and is one of the public sector insurance companies in India that offers a wide range of insurance services to its customers, including Personal Line of Insurance, Motor Vehicle Insurance, Rural Insurance, and Industrial & Commercial Insurance through a network of offices throughout the country. Their foreign operations are carried out from branch office in Nepal.

The New India Assurance Co. Ltd. (Investment Portfolio) (New India Assurance-IP) is the investment portfolio division of state-owned The New India Assurance Co. Ltd. (NSE: NIACL), a multinational general insurance company headquartered in Mumbai, India. The firm was founded by Sir Dorabji Tata in 1919. New India Assurance-IP manages the client’s investment portfolio.