UPSC Exam > UPSC Questions > The General Insurance Corporation of India st...
Start Learning for Free
The General Insurance Corporation of India started operation with holding companies:
1. New India Insurance Company Limited
2. National Assurance Company Limited
3. Agriculture insurance company of India Limited
Which of these statements is/are correct?
- a)None of them
- b)1 and 3 Only
- c)All of them
- d)1 and 2 Only
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
The General Insurance Corporation of India started operation with hold...
The General Insurance Corporation of India (GIC) is the state-owned reinsurance company in India. It was formed in 1972 and started operations with four subsidiary companies. To determine the correctness of the statements provided, let's check the history of GIC and its subsidiaries.
The original four subsidiary companies under GIC were:
1. New India Assurance Company Limited
2. National Insurance Company Limited
3. Oriental Insurance Company Limited
4. United India Insurance Company Limited
2. National Insurance Company Limited
3. Oriental Insurance Company Limited
4. United India Insurance Company Limited
Agriculture Insurance Company of India Limited (AIC) was not one of the original subsidiaries when GIC started its operations. AIC was formed later, in 2002, to provide crop insurance to Indian farmers.
Given this information, the correct statements regarding the original holding companies of GIC are:
1. New India Assurance Company Limited
2. National Insurance Company Limited
2. National Insurance Company Limited
Therefore, the correct answer is:
4. 1 and 2 Only
This question is part of UPSC exam. View all UPSC courses
Most Upvoted Answer
The General Insurance Corporation of India started operation with hold...
The General Insurance Corporation of India (GIC) is a state-owned reinsurance company in India. It was formed in 1972 under the General Insurance Business (Nationalization) Act, 1972. GIC started its operation with holding companies, which are as follows:
1. New India Insurance Company Limited: It was founded in 1919 by Sir Dorabji Tata. It is one of the largest non-life insurance companies in India. It offers a wide range of insurance products such as motor, health, travel, home, and personal accident insurance.
2. National Assurance Company Limited: It was established in 1906. It is one of the oldest non-life insurance companies in India. It provides insurance products such as fire, marine, motor, engineering, and aviation insurance.
3. Agriculture Insurance Company of India Limited: It was incorporated in 2002 to provide insurance to farmers in India. It offers various insurance products such as crop insurance, weather-based crop insurance, and livestock insurance.
The correct answer to the given question is option 'D', i.e., none of them. The reason is that GIC started its operation with four holding companies, not three. The fourth holding company is Oriental Insurance Company Limited, which was founded in 1947. It is a subsidiary of GIC and offers various insurance products such as motor, health, travel, home, and personal accident insurance.
In conclusion, the General Insurance Corporation of India started its operation with four holding companies, i.e., New India Insurance Company Limited, National Assurance Company Limited, Agriculture Insurance Company of India Limited, and Oriental Insurance Company Limited.
1. New India Insurance Company Limited: It was founded in 1919 by Sir Dorabji Tata. It is one of the largest non-life insurance companies in India. It offers a wide range of insurance products such as motor, health, travel, home, and personal accident insurance.
2. National Assurance Company Limited: It was established in 1906. It is one of the oldest non-life insurance companies in India. It provides insurance products such as fire, marine, motor, engineering, and aviation insurance.
3. Agriculture Insurance Company of India Limited: It was incorporated in 2002 to provide insurance to farmers in India. It offers various insurance products such as crop insurance, weather-based crop insurance, and livestock insurance.
The correct answer to the given question is option 'D', i.e., none of them. The reason is that GIC started its operation with four holding companies, not three. The fourth holding company is Oriental Insurance Company Limited, which was founded in 1947. It is a subsidiary of GIC and offers various insurance products such as motor, health, travel, home, and personal accident insurance.
In conclusion, the General Insurance Corporation of India started its operation with four holding companies, i.e., New India Insurance Company Limited, National Assurance Company Limited, Agriculture Insurance Company of India Limited, and Oriental Insurance Company Limited.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer?
Question Description
The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer?.
The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer?.
Solutions for The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The General Insurance Corporation of India started operation with holding companies:1. New India Insurance Company Limited2. National Assurance Company Limited3. Agriculture insurance company of India LimitedWhich of these statements is/are correct?a)None of themb)1 and 3 Onlyc)All of themd)1 and 2 OnlyCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup