Expansion plan of New India Assurance

The state owned non-life insurance company New India Assurance plans to expand its activities to other countries. It has reactivated its operations in Canada after 30 years of absence and opened for the first time two branches in Myanmar and Qatar.

The overseas business contributed for 20% of the total turnover of the company which is already present in 22 countries. The expansion projects of New India Assurance are subject to the approval of the Indian insurance authority (IRDA).
The total turnover of New India (local and foreign underwritings) is of 2.4 billion USD.