Background: New India Assurance Ltd (NIA) is a general insurance company, incorporated in 1919. As of 1QFY18, their operations are spread across 29 States and 7 Union Territories in India through 2452 offices and across 28 other countries globally through a number of international branches, agency offices, subsidiaries(3) and associate companies(2) including a desk at Lloyd's, London. Their distribution network in India includes 68,389 individual agents and 16 corporate agents, bancassurance arrangements with 25 banks in India, and a large number of OEM and automotive dealer arrangements through their agent and broker network. Its revenue flows from well diversified product range across fire, marine, motor, crop, health and other insurance segments, with ~230 customized products (1QFY18), including various industry specific products. In FY17, NIA had acquired largest market share of 15% of gross...