Sifratis Healthcare Private Limited

New India Assurance Company Limited is a leading Public Sector General Insurance Company in India, majorly owned by the Government of India. Founded by Sir Dorabji Tata in 1919, it was nationalized in 1973. It is a dominant force in the Indian non-life insurance market, known for its extensive network with 1594 offices across the country. The company has a significant global presence, operating in over 24 countries. New India Assurance boasts a remarkably diverse product portfolio, extending far beyond conventional offerings. The company provides complex and specialized coverage for large-scale operations, including aviation, marine insurance, or property insurance for large risks. At the other end of the spectrum, it caters to the rural and underserved markets with a range of micro-insurance products, demonstrating a commitment to serving a wide array of customers and their unique needs. The Insurance Regulatory and Development Authority of India (IRDAI) has consistently identified New India Assurance as a Domestic Systemically Important Insurer (D-SII). This designation is reserved for insurers whose size, market importance, and domestic and global interconnectedness are so significant that their distress or failure could cause a major disruption to the domestic financial system. The fiscal year ending March 31, 2026, cemented the company's position as the market leader through robust financial growth and expanding market share. New India Assurance successfully maintained its position as the largest general insurer in India. The company achieved an all-time high Global Gross Written Premium (GWP) of over ₹47,174 Crores for the fiscal year. The Indian business grew faster than the general industry average, driving the company's market share up to 12.74% (compared to 12.56% during the same period the previous year). Profit After Tax (PAT) for the year ending March 31, 2026, rose to INR 1,384 Crores—marking a stellar 40% increase over the previous year's PAT of INR 988 Crores. The company has consistently received high ratings from major credit agencies, highlighting its financial strength. It holds a 'CRISIL AAA/Stable' rating, the highest possible credit rating, indicating a strong capacity to meet its financial obligations. AM Best revised Company’s outlook to Positive from Stable, while affirming our Financial Strength Rating of B++ (Good). This revision specifically recognizes our improving trend in Enterprise Risk Management (ERM) and the strengthening of our internal systems and audit controls.