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Jul 2014 New India Assurance, set up in 1919, is the first Indian insurance company fully owned by the State. In an effort to pursue its development plan in the Gulf region, the company is studying the possibility of opening a representation office in the Dubai International Financial Center.
The Gulf market is particularly important for New India Assurance where many of its international clients have an activity.
In 2013, the group reported there a turnover of 700 million AED (190.6 million USD). The new office will provide local support to corporate clients.