New India Assurance x Amaravati: A ₹100 Cr Milestone

In a major step to strengthen Amaravati as the state capital, The New India Assurance Co. has announced plans to establish its regional office in the city.

The project involves an investment of Rs 100 crore and is expected to create 200–225 jobs across technical and administrative roles. The new office will also host AI specialists to develop innovative insurance products. The facility will provide comprehensive general insurance services to rural, social, urban, and corporate sectors, boosting insurance penetration and promoting financial inclusion, particularly among farmers, self-help groups, and the general public.

Officials from the Andhra Pradesh Capital Region Development Authority (APCRDA) highlighted that the initiative will enhance insurance access and support economic growth. A formal sale agreement between APCRDA and The New India Assurance has been executed, marking a significant step toward positioning Amaravati as a key institutional and economic hub, especially within the expanding Amaravati FinTech Zone.

News by Rahul Yelligetti.