The New India Assurance Co. Ltd. was a subsidiary of which of the following company?

A. General Insurance Corporation of India (GIC)

B. Life Insurance Corporation of India (LIC)

C. The Oriental Insurance Company

D. United India Insurance Company

Answer: Option A

Solution(By Examveda Team)

Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy.