Following Government advisory on COVID-19, we have temporarily closed our office premises as a safety measure for our staff and stake holders. During this period, our services will continue uninterrupted as our dedicated and customer centric work force will function as usual to provide optimum policy and claim services by working from their homes.
Company Profile - New India Assurance UK
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Welcome to New India, Commercial Insurance and London Market Operations

About New India Assurance

New India has a long-term presence in the UK market dating back to 1920. Today we operate out of offices in London, (including our box at Lloyd’s) and Ipswich.

The London office writes Property Reinsurance worldwide on both a Facultative and Direct basis as well as participating in Property Treaty business.

From our Ipswich office we underwrite a range of Commercial Insurance products designed to meet the specific needs of small to medium businesses. In addition, we also write Retail Insurance business (Motor and Home Insurance) through a number of selected partners.

New India is authorised by the Prudential Regulation Authority (PRA), and is regulated by the PRA and the Financial Conduct Authority (FCA).

Treaty

  • We underwrite risks located across Europe, Japan, China and the wider Asia Pacific, and Middle East and North Africa regions. We are always willing to look at new regions.
  • We deal with all the major international property treaty brokers, as well as smaller more specialist ones for specific territories.
  • Our capacity and line structure is GBP 15m maximum per programme or currency equivalent, with support potentially available throughout a programme.
  • Our products include Property Treaty catastrophe and Aggregate Excess Loss, Stop Loss, Per Risk Excess loss, and Pro Rata Treaty.
  • We have a fast and reliable claims and premium processing service via the London XIS bureau, or outside this bureau at Clients’ option.

Facultative

  • Worldwide in scope but at present excludes risks located in the USA, India and Japan unless incidental.
  • We offer cover on a wide range of occupancies with very few absolute restrictions although our preference is for medium size industrial risks.
  • We work with all major brokers in the UK, as well as other selected broking partners overseas.
  • Our capacity and line structure is up to a maximum of USD 12.5m per programme but our maximum line is reserved for top quality risks with substantial spread of values.
  • We are flexible in considering different options: Quota Share, Loss Limit, Primary and Excess of Loss to ensure the best use of our capacity.

  • Long Term Presence

    Operating here in the UK Market dating back to 1921

  • Financially Sound

    An asset base of £8.93 billion and a Global Solvency Margin of 2.13

  • Providing Insurance Solutions

    Reinsurance, Commercial and Retail

The New India Assurance Company Ltd

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