Insurance Business of Nafed
NAFED has entered in the field of General Insurance business as a step towards diversification of its activities for getting good remuneration without investment asd has undertaken a Corporate Agent of IFFCO- TOKIO General Insurance Co. Ltd . (ITGI) . ITGI is a Joint Venture betweeen IFFCO and TOKIO Marine and Fire Insurance Company of Japan and is now one of the leading private General Insurance Company of India.ITGI is providing insurance products and services in satisfying manner .
As the Corporate agent IFFCO TOKIO, NAFED continued to handle general insurance business. During the year 2010-11 , NAFED had done an insurance business of Rs 79.33 Lakhs . the insurance business covered mainly includes PSS stocks and also commercial stocks . During the year Purchases under PSS were negligible , there , turnover of the Insurance Section remain less as compared to the last year .
NAFED has got renews its corporate License number ITG 1615019 under Certificate No. ITG C000102481 from Insurance Regulatory Development Authority (IRDA) through Iffco Tokio General Insurance Co. (ITGI)