National Insurance Company Limited (NICL), a Wholly-owned Government of India Undertaking, is the oldest Public Sector General Insurance Company in India, incorporated on 5th December 1906 under the Indian Companies Act, 1882 (now The Companies Act, 2013). After the nationalization of General Insurance Companies in 1972, 21 foreign and 11 Indian companies were merged to form National Insurance Company Limited as a Subsidiary of the government-owned General Insurance Corporation of India. The Company is registered as a General Insurance Company with Insurance Regulatory and Development Authority of India (under the provision of Section 3 of The Insurance Act, 1938) vide Registration No.58. After the notification of the General Insurance Business (Nationalization) Amendment Act, on 7 August 2002, National Insurance Company Limited was de-linked from its holding company GIC and presently operates as an independent insurance company wholly owned by Govt of India.
Organization Structure:
- Headquartered at Kolkata, West Bengal.
- Having a network of Regional Offices, Corporate Business Offices, and Business Offices/ Business Centers across India totaling to 863 offices.
- Manpower Strength of 6794 employees
NICL offers comprehensive risk protection across various sectors, including Motor, Health, Property & Fire, Marine, Liability and Accident, Commercial and Industrial, and Rural and Crop insurance, serving both retail individuals and corporate/institutional clients. NICL provides over 200 insurance products tailored for different segments, ranging from everyday personal protection plans to complex risk covers for businesses. NICL’s strategic focus is on delivering comprehensive and affordable risk protection, leveraging technology and innovation for product development and customer service, upholding strong ethical and service standards, and expanding outreach across both urban and rural markets as the Country marches to its stated objective of “Insurance for all by 2047”.
