Public sector general insurer New India Assurance Company, the only domestic general insurer with presence in Japan, has received claims worth Rs 350 crore due to the earthquake and tsunami in March last year.
"We have a liability of around Rs 350 crore due to the devastating earthquake and subsequent tsunami that took place in Japan last year," a company official said.
Referring to its exposure in Japan, company official said most of the exposure is retail in nature with only a minor exposure to the risks emanating from Tokyo Electric Power Company which ran the Fukushima nuclear power plant that bore the maximum brunt of the tsunami and was shut down.
The company had reported a loss for the first time in its 90-year history at Rs 421 crore in 2010-11, due to the losses incurred from its international operations.
About the possibility of listing of the general insurance firm, the officials said there is no word from the government on this issue.
