Car Insurance Company Profiles

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited and Allianz SE. Out of an authorized and paid up capital of Rs. 110 crore, 74 percent is held by Bajaj Finserv while the rest is held by Allianz, SE.

Established on 13th July 2007 and headquartered at Bangalore, Bharti AXA General Insurance is a 74:26 joint venture between Bharti and AXA respectively. Bharti is a leading business group engaged in telecom, agri business and retail. AXA on the other hand is a world leader Financial Protection and Wealth Management.

Headquartered in Chennai, the Cholamandalam MS General Insurance Company Ltd. is a joint venture between one of India’s leading business groups, the Murugappa Group and the Mitsui Sumitomo Insurance Group, a part of the largest insurance group of Japan with a significant global presence. In India, the Cholamandalam operates with 113 branches and more than 7500 agents across the country and achieved a GWP of Rs. 968 crores in the 2010-11.

The Future Generali Insurance Company is a joint venture between one of India’s leading business houses the Future Group and the Italy-based Generali Group. The company was established on Oct 30, 2006 and has been steadily growing since. Currently, it operates through 97 branches spread across 80 cities in India.

HDFC ERGO is a 74:26 joint venture between HDFC Limited and ERGO International AG. While HDFC Limited is India’s premier Housing Finance Institution, ERGO International AG is the primary insurance entity of Munich Re Group.

ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited with 74:26 shares respectively. It is the largest private sector general insurance company in India. The company had a Gross Written Premium (GWP) of Rs. 3,694.8 crore for the year ended March 31, 2010.

IFFCO-Tokio General Insurance (ITGI) was established on December 4,2000 with a vision of becoming the industry leader through focus on customer satisfaction achieved by qualities such as fairness, transparency, and quick response. A joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and Tokio Marine and Nichido Fire Group.

National Insurance Company is the second largest non-life insurance company and the oldest insurance company in India having a strong market presence in Northern and Eastern India.

New India was founded on July 23rd, 1919 by the House of Tata Founder member, Sir Dorabji Tata. The company came to be nationalized in 1973. The New India Assurance Company Limited is one of the leading global insurance groups and has offices and branches throughout India and in many countries abroad.

Established at Bombay on September 12, 1947, the Oriental Insurance Company Limited was formed to carry out General Insurance business. It was a subsidiary of Life Insurance Corporation (LIC) of India from 1956 to 1973 after which the insurance business was nationalized by the government. All shares of the Oriental Insurance Company were transferred to the Central Government in 2003.

The Reliance General Insurance is a well established private general insurance company in India and a part of the Reliance Capital Limited of the Reliance Anil Dhirubhai Ambani Group. The Reliance Capital ranks among the top three private sector financial services and banking companies with respect to the net worth.

The Royal Sundaram Alliance Insurance Company is a joint venture between the Sundaram Finance and the RSA. The Sundaram Finance is a well known non-banking financial institution in India and a symbol of reliability. The RSA is one of the oldest and the second largest general insurer in the UK and a global financial giant.

The Tata AIG General Insurance Company Limited is a joint venture between the Tata group and the American International group with the Tata Group holding 74 percent of the share. The venture combines the Tata Group’s leadership in India and the global presence of AIG in insurance and finance services.  It started its operations on January 22, 2001 and has a wide portfolio of insurance products including automobile, home, marine and energy insurance.