NNAC boasts a countrywide footprint, but our beginnings were more modest.
The roots of our company date back as early as 1930 when the New India Assurance Company, one of the subcontinent’s largest insurers, established a branch in Natal. Later, during the apartheid era, a group of forward-thinking black businessmen took over the ownership and running of the company, which was formally incorporated in 1971 as the New India Assurance Company of South Africa.
During the eventual transition to democracy which began to take shape from 1990 onwards, the shareholders decided to change the name to New National Assurance Company (NNAC), to reflect the changing political realities sweeping through the land and which carried with it latent economic opportunities for people of disadvantaged backgrounds.
The company has thus evolved from a regional player into a national one, capable of underwriting sizeable risks in excess of ZAR 1 bn before the need to access local and international facultative markets.