The first non-life insurance company to set up shop in India was the Triton Insurance Company of Calcutta.

1. In 1907, the Indian Mercantile Insurance ltd was the first Indian Company that started its operation.
2. The New India Assurance Company was incorporated in 1919.
3. In 1972, the non-life insurance business in India was nationalized with effect from 1st January 1973.

General Insurance Corporation of India (GIC) was formed as a single holding company with four sub Companies:
1. The National Insurance Co. Ltd
2. The Oriental insurance Co. Ltd
3. The United India Insurance Co. Ltd
4. The New India Assurance Co. Ltd