The New India Assurance Company Limited is the largest non-life insurer in India and one of the biggest in Afro-Asia. Get our mobile app for faster access. The New India is a public sector General Insurance Company owned by Government of India and presently operating in India and 23 countries spanning 5 continents. It was established in the year 1919 and having its head quarters at Mumbai, India. The New India Assurance Co Ltd was established in 1919 by Sir Dorab Tata in Bombay, now Mumbai, India. It initially started its operation as a life and general business. Then in 1956 New India became an exclusive General Insurance Company.