New India Assurance plans to enter Qatar, Canada

Source: Hindu Business Line via Indian Economic Business News

State-owned general insurer New India Assurance is in the process of leveraging its presence in the overseas markets. The company currently operates across 22 countries. It plans to enter Qatar, Myanmar and Canada this fiscal, according to G. Srinivasan, Chairman-cum- Managing Director. He also said “There are challenges in overseas operation. First of all, we are a foreign company. Then, there is the general slowdown; there are regulatory restrictions and finally, the bias towards overseas companies in some places. But, we have managed quite well. Our reputation and international rating has helped us penetrate into newer markets.” ‘We are trying to revive our operations in Canada, where we were present some years ago, but Qatar is a new market for us.”