Owned by the Indian government and run by the Ministry of Finance, National Insurance Company Limited (NICL) is a public sector insurance provider. Gordhandas Dutia and Jeevan Das Dutia founded it in 1906, and it has its headquarters in Kolkata. In 1972, the Asian Insurance Company and the National Insurance Company were nationalized. Its portfolio includes numerous general insurance plans that are provided to a broad range of customers from various economic sectors.In addition to being one of India's top insurance companies, NICL is active in Nepal.
NICL functioned as a division of the General Insurance Corporation of India (GIC) following its nationalization in 1972. The General Insurance Business (Nationalization) Amendment Act of 2002 allowed National Insurance Company Limited to be spun off as a separate business. In order to distribute its general insurance products through Nainital Bank's offices in Uttarakhand, Haryana, and New Delhi, NIC and the bank formed an agreement in April 2004.