TATA AIG General Insurance Company Limited is an Indian general insurance company headquartered in Mumbai, Maharashtra, and is a joint venture between the Tata Group and American International Group (AIG).
The company is owned by the Tata Group and American International Group (AIG), with shareholding split at 74% and 26%, respectively.
The company uses a multi-channel distribution model, offering products through agents, brokers, banks, and direct channels including telemarketing and digital marketing. Tata AIG holds an approximate 6% market share in the Indian general insurance sector, making it the third-largest private general insurer in India.
It offers a range of general insurance products including insurance for automobile, home, personal accident, travel, energy, marine, property and casualty as well as specialized financial lines.
Tata AIG was formed in 2001 as a joint venture between the Tata Group and American International Group following the liberalization of India's insurance sector.
In October 2001, Tata AIG partnered with IDBI Bank Insurance Consultancy to distribute its general insurance products, starting with the personal accident policy Future guard via select IDBI Bank ATMs in Mumbai. In November 2001, Tata AIG received approval from the Insurance Regulatory and Development Authority to introduce group pension products, becoming the first private insurer in India to do so.
In 2002, the company partnered with various non-governmental organizations to tap into the rural market and develop new insurance products. At the same time, it launched a new personal accident insurance policy named "Shanti," with Naseeruddin Shah as its brand ambassador. In March 2002, it partnered with Thomas Cook to sell international travel insurance products. By the end of the 2002 fiscal year, rural policies made up 11% of Tata AIG's total policies, above the mandated minimum of 5%.
In May 2014, Tata AIG established the Tata AIG Academy to educate its distributors. It partnered with India Post Payments Bank to distribute its non-life insurance products in September 2021.
In May 2024, Tata AIG launched a Satellite In-Orbit Liability policy, reportedly the first in the country. In June 2024, it was reported to have issued a performance surety bond valued at over ₹100 crore, described as the largest in India.
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