“We
have always attached particular importance to hands-on contact
with all those we do business with”
– Mahmoud Rajab, Managing Director
In
1930 the New India Assurance Company Limited of Bombay, the
first fully Indian owned insurance company, established a
branch in South Africa to service the large Indian community
centered in Durban.
When
India nationalised its short term insurance industry in 1971,
the South African branch was closed. To fill the gap, the
New India Assurance Company Ltd opened for business on 1 March
1972. Thus was born a proudly South African company, wholly
owned by black businessmen.
In
1990, in the context of a fast-changing political landscape,
the company changed its name to New National Assurance Ltd.
The name change reflected a commitment to service a wider
a more representative South African community: New National
for a new nation.
New
National is backed by Munich Re, one of the world’s
largest re-insurance companies, both as a strategic partner
and shareholder, giving it the scope to provide a wide range
of
insurance products at highly competitive rates.
Despite
significant changes in the short-term insurance industry,
New National remains convinced that brokers and underwriting
managers are still the best way of providing our clients with
personal and dedicated service.
The
company has a proud record of being able to underwrite profitably
and due to a conservative investment policy matches steady
premium growth with optimal returns for shareholders.
