Peacock, National Bird, which is also a symbol for the oldest general insurance company of India, which exists as a PSU (Government Company) today. The name of comp;any is National Insurance Co. Ltd., which was established in 1906.
As on today, four general insurance companies (which are Government Companies) exists in the market and these are National, New India, Oriental and United India. The New India is the biggest one.
GIC-Re, having its HQ at Mumbai, is also a Government Company, doing reinsurance business.
ECGC, is again a Government Company doing Export Credit Guarantee Insurance. And then there is Agricultural Insurance Company of India, which is also a Government Company.
On life side there is only one Government Company i.e. LIC, Life Insurance Corporation of India.
All other insurance companies except above are private insurance companies.
Insurance sector in India is regulated by IRDA, as financial sector is regulated by SEBI.
IRDA Head Quarter is in Hyderabad.
