Discussion :: Insurance Awareness
- The New India Assurance Co. Ltd. was a subsidiary of which of the following company?
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A.
General Insurance Corporation of India (GIC)
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B.
Life Insurance Corporation of India (LIC)
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C.
The Oriental Insurance Company
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D.
United India Insurance Company
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Answer : Option A
Explanation :
Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy.
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