New India Assurance to open offices in Canada, Qatar: CMD

CHENNAI: As part of efforts for strengthening its presence in overseas markets, insurance service provider New India Assurance was looking at setting up offices in Qatar, Myanmar and Canada, according to a top company official.

The company was looking at opening offices in Qatar, Myanmar and in Canada. These are in various stages of seeking approval (from IRDA), New India Assurance Chairman and Managing Director, G Srinivasan said.

It had been growing at 14.03 per cent upto November 2013, surpassing market growth of 13.17 per cent, he told reporters after inaugurating the company's "refurbished" corporate and broker's office, here.

He said the global slow down affected the entire industry "considerably" and hoped that the last quarter of the current financial year would drive the business.

Expressing confidence that the company would reach the target premium of Rs 15,000 crore this fiscal, he said the company would soon open 2,000 offices, including 1,000 'micro-offices' in the country.

The company planned to open new regional offices in Raipur (Chhattisgarh), Madurai (Tamil Nadu) and Hubli (Karnataka), he added.