When we talk about insurance, National Insurance Company Limited (NICL) can be truly considered a pioneer among all. NICL is not only the oldest, but also the second largest general insurance company in India. The company came into existence way back in 1906. After the General Insurance Business Nationalisation Act passed in 1972, 11 Indian insurers and 21 international companies merged into it. The insurer consequently became a part of the General Insurance Corporation of India (GIC), which was wholly owned by the Indian government. After the General Insurance Business (Nationalisation) Amendment Act was passed on August 7, 2002, National Insurance Company Limited started to operate as a separate entity.
The National Insurance Company is one of the top general insurers in India. It has a strong market presence in Eastern and Northern region of the country. The head office of the company is present in Kolkata and it has almost 2000 offices across the country operating in towns, metro cities and in rural areas. NIC holds more than 200 policies, through which it caters to its 14 million policyholders.
The amount of premium recorded by National Insurance was INR 11282.64 crore in the Fiscal Year of 2015. National Insurance recorded highest Profit Before Tax (PBT) worth INR 1196.74 crore surpassing its previous year’s total of INR 1007.82 crore.
National Insurance Company caters its services to most of the industrial sector in India, such as Aviation, IT, Banking, Telecom, Shipping, Power, Oil and Energy, Healthcare, Foreign Trade, Education, Automobile, Space Research, Plantation, Agronomy, etc.
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Today, with the popularity of the internet a lot of people are buying insurance online. National Insurance online has become a synonym with buying general insuance. Also, National Insurance online renewal has become increasingly popular. This is an easy way for consumers to renew their policy, in just a few minutes. All policies at National insurance Company Limited are eligible for online renewal be it a Motor Insurance, health insurance or Travel Insurance.
Before buying, it is advisable to compare the National Insurance Plans with other Insurance companies and then choose the best plan that suits you the most!
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