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,HDFC Limited being India’s premier Housing Finance Institution & ERGO International AG being the primary insurance entity of Munich Re Group. The collaboration is dedicated to provide its customers with the “Right Insurance Solution” with a wide range of general insurance products including health, travel, home and personal and motor insurance and customized products for corporate utility such as marine, liability and property insurance. The company focuses at improvising at every step and cater to the needs of its customers with superior customer support, ensuring a pleasant experience.

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. Over 44,00,000 policies have been issued and over 62,00,000 claims have been settled. A claim disposal ratio of 96% (percentage of claims settled against claims reported) was achieved by the company as on 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, ITGI has quickly gained the trust of the Indian customers and secured its presence with 57 ‘Strategic Business Units’ and a vast network of over 100 Lateral Spread Centers and 280 Bima Kendras. Tokio Marine and Nichido Fire Group is the largest listed insurance group in Japan and its experience in the insurance industry has enabled ITGI to design and offer a wide range of customized policies to customers from farmers to some of India's largest automobile manufacturers.

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. With a huge network of 1068 offices that comprise 26 Regional offices, 393 Divisional offices and 648 branches, New India employs 21000 personnel. It has the largest number of specialists and technically qualified employees at every levels of management.

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 combination of these two companies in 2001 resulted in the inception of the Royal Sundaram Alliance Insurance Company Limited which became the first private insurer in the country to be licensed post privatization.