Insurance Awareness Quiz for LIC AAO- Set 9 (Public Sector Insurance Companies)

Insurance Awareness Quiz: We have created quiz questions on Insurance Awareness which are most important for insurance exams. These questions and answers will guide you in all insurance exams like LIC (AAO/ADO), NIACL assistant and AO, UIIC, IRDA and other Bank PO exams and all competitive exams. So attempt these multiple choice questions now based on the exam pattern syllabus.

1. What is the share of Government of India in the GIC of India (GIC Re)?
   A) 70.25%
   B) 100%
   C) 51.11%
   D) 85.78%
   
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   Option D
   Explanation: GIC Re was a wholly-owned company of Government of India until its initial public offer (IPO) in October 2017. After the IPO Government of India’s holding in GIC Re declined to 85.78%
2. The authorized capital of the General Insurance Corporation of India (GIC) is Rs ____________
   A) Rs 500 crore
   B) Rs 1000 crore
   C) Rs 100 crore
   D) Rs 1500 crore
   
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   Option B
   Explanation: The paid-up equity capital is Rs.430 crore
3. General Insurance Corporation of India (GIC) has its foreign branches in how many countries?
   A) 1
   B) 2
   C) 3
   D) None
   
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   Option C
   Explanation: It has 3 branches in located at London, Dubai and Kuala Lumpur and 1 representative office in Moscow
4. Which among the given is the wholly owned subsidiary of GIC Re?
   A) GIC-Bhutan RE Ltd.
   B) GIC Re South Africa Ltd.
   C) Agricultural Insurance Company of India Ltd
   D) GIC Re India Corporate Member Ltd
   
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   Option B
   
5. The New India Assurance Company Limited was founded in which year?
   A) 2 March 1928
   B) 18 December 1922
   C) 28 January 1932
   D) 23 July 1919
   
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   Option D
   
6. The headquarter of The New India Assurance Company Ltd is located in which city?
   A) Kolkata
   B) Chennai
   C) Mumbai
   D) Delhi
   
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   Option C
   
7. Who is the current CMD of The New India Assurance Company Ltd?
   A) Atul Sahai
   B) Debasish Panda
   C) Neelam Damodharan
   D) P. Ramana Murthy
   
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   Option A
   
8. What is the authorized capital of The New India Assurance Company Ltd?
   A) Rs 100 crore
   B) Rs 500 crore
   C) Rs 200 crore
   D) Rs 300 crore
   
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   Option D
   Explanation: The paid-up equity capital of the company is Rs.200 crore
9. Who is the founder of The New India Assurance Company Ltd?
   A) Pallonji Mistry
   B) Sir Dorabji Tata
   C) Ardeshir Godrej
   D) S.K. Burman
   
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   Option B
   
10. The New India Assurance Company Ltd is a _____________ type of company
    A) General Insurance Company
    B) Life Insurance Company
    C) Pension Regulator
    D) Asset Reconstruction Company
    
    View answer

    Option A
    

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