New India Assurance to open regional hub in Dubai

Tags: Insurance
General insurer New India Assurance plans to open its Middle East hub in Dubai International Financial Centre (DIFC) as part of a strategic move to enhance its footprints in the region.

"Middle East, particularly Gulf Cooperation Council (GCC), is a significant market for us and our focus will now be to increase our presence in this market and grow our business by offering our products to a multinational clientele in the region.

"The company's immediate plan includes concentrated growth in retail segment on personal lines of business like health, personal accident and home protection," said G Srinivasan, Chairman and Managing Director, New India Assurance.

He said the company's business has grown manifold in the GCC during the company's over 50 years of presence in the market, consistently notching up growth above industry average.

"In 2013, New India Assurance's business in GCC in terms of gross premium was to the tune of over AED 700 million and we are poised to grow more this year. The company declared 110 per cent dividend to its shareholders last year and is confident that with the strong economic trends and boom in sectors like property, construction etc... We are bound to grow further," he said.

Across the GCC, The New India Assurance has five branches - two in the UAE, one office each in Oman, Kuwait and Bahrain.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Kejriwal will do well to ignore the bickering and get on with work

    Psychologists explain implosion as a form of behaviour involving intensive recollection and review of anxiety-producing situations or events in an att

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Today's Columns

Simon J Evenett

Are you keeping an eye on BRIC reforms?

When the history of state action during the crisis era ...

Kuruvilla Pandikattu SJ

How do we explain pain and passion?

The holy week that the christians celebrate this week recalls ...

Shona Adhikari

Anjolie Ela Menon, the storyteller, is back

Anjolie Ela Menon, one of India’s most celebrated artists, is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture