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Section 4 (1) (B) (I) - The Particulars of Its Organization, Functions and Duties

The document provides information about the National Insurance Company Limited, including that it was established in 1906 and is now one of four subsidiaries of the General Insurance Corporation of India owned by the Government of India. It details the company's mission, vision, products, awards, and corporate social responsibility activities.

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dhinesh subramaniam
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21 views3 pages

Section 4 (1) (B) (I) - The Particulars of Its Organization, Functions and Duties

The document provides information about the National Insurance Company Limited, including that it was established in 1906 and is now one of four subsidiaries of the General Insurance Corporation of India owned by the Government of India. It details the company's mission, vision, products, awards, and corporate social responsibility activities.

Uploaded by

dhinesh subramaniam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Head‐Office

Right to Information Department

Chabbildas Tower, 7th Floor,

6A, Middleton Street, Kolkata‐700071

The Right to Information Act, 2005

Section- 4 (1) (b) (i) : The particulars of its organization, functions and duties

Company Profile
NATIONAL INSURANCE

Trusted Since 1906

National Insurance Company Limited is India’s Oldest General Insurance Company. It


was incorporated in Kolkata, West Bengal on December 5, 1906 to fulfil the
nationalist aspiration for Swaraj. 66 years later, after passing of General Insurance
Business Nationalisation Act in 1972, it was merged along with 21 foreign and 11
Indian companies to form National insurance Company Limited, one of the four
subsidiaries of the General Insurance Corporation of India, fully owned by Govt. of
India. Under the provisions of this Act, the shares of existing Indian general insurance
companies and undertaking of other insurers were transferred to GIC for the
regulation and control of insurance business.

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On Aug 7, 2002, National insurance was delinked from its holding Company that is
GIC and was formed as an independent insurance company.

National Insurance has offices all over India and a foreign office in Nepal. The
Company has strong presence with around 1730 offices and more than 13000 skilled
employees and over 50000 Agents spread all over the nation.

Mission:
To be the most preferred choice of customers for General Insurance by building
Relationships and grow profitably.

Vision:
 Leveraging technology to integrate people and processes.

 To excel in service and performance.

 To uphold the highest ethical standards in conducting our business.

Products of National Insurance:

National Insurance Company Ltd offers a wide range of insurance services to its
customers with around 300 products. The products it sells can be subdivided into
various lines of business:

 Personal Line of Insurance like Health Insurance, Personal Accident, Householders’


Insurance, Shopkeepers’ Insurance etc

 Motor Vehicle Insurance

 Rural Insurance covering Livestock, Agricultural implements

 Industrial & Commercial Insurance covering industrial units, power plants, business
establishments etc. against fire & allied perils, natural calamities etc.

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Awards & Achievements:

 National insurance is the first Company to introduce office on wheels in India.

 It is a pioneer in Bancassurance and Auto tie ups in India and also is a leading insurer
for Social Schemes.

 The Company has also been awarded several national and international awards like
Economic Times Iconic Brands 2018 (General Insurance Category), SKOCH order of
merit 2017 for General Insurance Company of the year and The Asset Asian awards
2017 for cash management solutions.

Corporate social responsibility:

National Insurance Company takes up CSR activities to operate in an economically,


socially and environmentally sustainable manner. Its priority and thrust areas have
been - education and vocational training, health and sanitation including drinking
water projects and rehabilitation and welfare of underprivileged differently abled
person etc. with the current focus being Swacch Bharat projects.

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