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Last Updated : Jan 20, 2017 12:57 PM IST | Source: Moneycontrol.com

Listing will lead to better corp governance: New India Assurance

State-owned general insurer New India Assurance which is the largest general insurer has received a cabinet nod for listing on the exchanges. G Srinivasan, CMD, New India Assurance talks to M Saraswathy about their plans.


State-owned general insurer New India Assurance which is the largest general insurer has received Cabinet nod for listing on the exchanges. G Srinivasan, CMD, New India Assurance talks to M Saraswathy about their plans:-


Q: What is the timeline you have set for the initial public offering? Will you be the first to list?


A: We hope to list in the next 6-8 months. Possibly, we could be the first one to list.

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Q: How significant is this for the company?


A: It is a good development because it creates a good brand image for the general insurance industry among the public. The profile of insurance industry is not very well known among the people in this country.


For us, it will lead to better corporate governance, transparency and also lead to sharing of the company’s prosperity with the retail shareholders. Also, employees will also get an opportunity to have a stake in the company’s shareholding.


Further, this should also motivate other general insurers to list in due course.


Q: High losses due to claims have been a source of worry for general insurers. What would be your focus on this front before you hit the market?

Having a lower combined ratio (ratio of claims, expenses versus premium collected) has been a focus for us. We would look to bring down the combined ratio, regardless of the IPO.



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First Published on Jan 18, 2017 06:32 pm
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