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About Public Sector Insurance Companies in India
1. Life Insurance Corporation of India (LIC)
- Year of Establishment: 1956
- Type: Life Insurance
- Information: LIC has 2048 fully computerized branch offices, 113 divisional offices, 8 zonal offices, 1381 satellite offices and the Corporate office.
- Headquarters: Mumbai
- Slogan: Yogakshemam Vahamyaham
- Chairman: M R Kumar
2. General Insurance Corporation of India (GIC Re)
- Year of Establishment: 1972
- Type: Re-Insurance Company
- Information: It is the sole Public Sector re-insurer in India. GIC Re has a subsidiary in South Africa GIC Re South Africa Ltd. In 2016 Re-insurance business was opened to Foreign players.
- Headquarters: Mumbai
- Slogan: Aapatkale Rakshisyami
- Chairman-cum-Managing Director: Mrs. Alice G Vaidyan
3. Agriculture Insurance Company of India Ltd.
- Incorporation: 20th December, 2002
- Commencement of Business: 1st April, 2003
- Type: General Insurance (Crop Insurance)
- Information: AIC has taken over the implementation of National Agricultural Insurance Scheme (NAIS) which, until FY 2002-03 was implemented by General Insurance Corporation of India. In addition, AIC also transacts other insurance businesses directly or indirectly concerning agriculture and its allied activities. Authorised Share Capital- Rs. 1500 Crores. Paid-up Share Capital- Rs. 200 Crores
- Headquarters: New Delhi
- Slogan/Tag Line: Think Crop Insurance Think AIC
- Chairman-cum-Managing Director: Mrs. Alamelu T. Lakshmanachari
4. ECGC Ltd.
- Year of Establishment: 1957
- Type: General Insurance (for exports)
- Information: ECGC is essentially an export promotion organization, seeking to improve the competitiveness of the Indian exporters by providing them with credit insurance covers.
- Headquarters: Mumbai
- Chairman-cum-Managing Director: Smt. Geetha Muralidhar
5. National Insurance Co. Ltd.
- Year of Establishment: 1906
- Type: General Insurance
- Information: National Insurance Company Limited is India’s Oldest General Insurance Company. It was incorporated in Kolkata, West Bengal on December 5, 1906 to fulfill the nationalist aspiration for Swaraj.
- Headquarters: Kolkata
- Slogan/Tag Line: “Trusted Since 1906”
- Chairman-cum-Managing Director: Ms. Tajinder Mukherjee
6. The New India Assurance Co. Ltd
- Year of Establishment: 1919
- Type: General Insurance
- Information: It was founded by Sir Dorab Tata from the house of TATAs and incorporated on 23rd July 1919
- Headquarters: Mumbai
- Chairman-cum-Managing Director: Mr. Atul Sahai
7. The Oriental Insurance Co. Ltd.
- Year of Establishment: 1947
- Type: General Insurance
- Information: The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973. In 2003 all shares of our company held by the General Insurance Corporation of India have been transferred to Central Government.
- Headquarters: New Delhi
- Slogan/Tag Line: Prithivi, Agni, Jal, Akash, Sabhi Suraksha Hamare Pass
- Chairman-cum-Managing Director: Shri A. V. Girija Kumar
8. United India Insurance Co. Ltd.
- Year of Establishment: 1938
- Type: General Insurance
- Information: Twelve Indian insurance companies, four co-operative insurance societies, five foreign insurers with Indian operations and the general insurance operations of the southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited to form the company.
- Headquarters: Chennai
- Slogan/Tag Line: Rest Assured With Us
- Chairman-cum-Managing Director: Shri Girish Radhakrishnan