New India Assurance presents Rs 220 cr dividend to govt

Public sector general insurer New India Assurance today presented a dividend cheque of Rs 220 crore to the government.

"G Srinivasan, CMD, The New India Assurance Co. Ltd., a Public Sector Non-life Insurance Company, presented a dividend cheque of Rs 220 crore to the Union Finance Minister Arun Jaitley here today," an official statement said.

Public sector general insurance companies showed a growth of 10 per cent in gross premium during 2013-14 and have projected a 100 per cent increase in the next five years.

There are four public sector non-life players in the country including New India Assurance. The others are National Insurance Company, United India and Oriental Insurance Company Ltd.