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Our Bureau

Mr H.S. Wadhwa

Kolkata , Nov. 2

NATIONAL Insurance Co (NIC) has emerged as the largest general insurer in the country, based on its half-yearly results. Figures collated by IRDA (Insurance Regulatory and Development Authority), suggest that the Kolkata-based company has emerged as the no. 1 player, beating New India Assurance.

NIC, which occupied the fourth slot about two years ago, recorded a premium income of Rs 2,071.49 crore as on end-September, at a growth rate of 26 per cent for the first half of the current fiscal. New India Assurance managed a premium volume of Rs 2,069.77 crore.

The company, said Mr H.S. Wadhwa, Chairman, said this premium growth was due to its efforts to tap more customers.

It tied up with 15 banks and several financial institutions for more effective distribution. Tie-ups with automobile majors such as Maruti, General Motors and Hero Honda were forged. NIC works closely with ECGC for promoting and expanding exports of small and medium enterprises.

Mr Wadhwa said a number of professionals had been recruited as agents over the past two years or so. The company's agents' base currently stands at over 70,000. NIC is also opening extension counters, while training is being imparted to more employees.

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