BeckyK8455 at 08:06, 27 March 2026

2026-03-27T08:06:55Z

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{{Short description|Indian public sector insurer}}
{{Use dmy dates|date=December 2014}}
{{Use Indian English|date=December 2014}}
{{Infobox company
| name = "Agriculture Insurance Company of India Ltd. (AIC)"
| logo = Agriculture Insurance Company of India.svg
| type = [[Public Sector Undertakings in India|Central Public Sector Undertaking]]
| industry = Agricultural Insurance
| founded = {{Start date and age|df=yes|2002|12|20}}<ref name = "About AIC">{{cite web |url=https://www.aicofindia.com/AICEng/Pages/default.aspx |title=About Us - AIC |website=aicofindia.com |publisher=AIC of India |access-date=23 December 2023}}</ref>
| hq_location = Plate B & C, 5th Floor, Block 1, East Kidwai Nagar, New Delhi - 110023
| hq_location_country = India
| key_people = Ms. Girija Subramanian<ref>{{Cite web|url=https://www.aicofindia.com/AICEng/Pages/Chairman_cum_MD.aspx|title=Aic of India Ltd}}</ref> (Chairman & Managing Director)
| products =
| services = Crop insurance
| revenue =
| revenue_year =
| operating_income =
| income_year =
| net_income = {{increase}} {{INRConvert|766|c}}
| net_income_year = 2022-23
| aum =
| assets =
| assets_year =
| equity =
| equity_year =
| owner = [[Ministry of Finance (India)|Ministry of Finance]], [[Government of India]]
| num_employees = 377 <ref> {{cite web |url=https://www.aicofindia.com/annual-reports|title=Annual Reports - Agriculture Insurance Company of India|date= March 2025 |website=aicofindia.com|publisher=AIC of India|access-date=27 March 2026}}</ref>
| num_employees_year =
| website = {{URL|https://www.aicofindia.com}}
| footnotes = <ref>{{cite web |url=https://www.aicofindia.com/AICEng/General_Documents/Final%20AIC%20Annual%20Report-English%20(1)%20(1).pdf |title=Annual Report, 2022-23 - Agriculture Insurance Company of India |date=6 September 2023 |website=aicofindia.com |publisher=AIC of India |access-date=23 December 2023}}</ref>
}}

'''Agriculture Insurance Company of India Limited''' ('''AIC''') is an Indian [[Public Sector Undertakings in India|public sector undertaking]] headquartered in [[New Delhi]]. It is a government-owned agricultural insurer under [[ownership]] of the [[Ministry of Finance (India)|Ministry of Finance]], [[Government of India]].<ref>{{Cite web |title=Agriculture Insurance Company launches new insurance product ‘Fal Suraksha Bima' |url=https://www.indianchemicalnews.com/general/agriculture-insurance-company-launches-new-insurance-product-fal-suraksha-bima-24595 |access-date=2025-08-05 |website=Indianchemicalnews}}</ref>

==History==
AIC was incorporated on 20 December 2002 with an authorized capital of Rs. 1500 crore. The initial paid-up capital was Rs. 200 crores, which was subscribed by the promoting companies, [[General Insurance Corporation of India]] GIC (35%), [[National Bank for Agriculture and Rural Development|NABARD]] (30%) and the four public-sector general insurance companies (8.75%) each, viz., [[National Insurance Company|National Insurance]] Co. Ltd., [[The Oriental Insurance Company|Oriental Insurance]] Co. Ltd., [[New India Assurance]] Co. Ltd., and [[United India Insurance Company|United India Insurance]] Co. Ltd.<ref>{{cite news| url=https://www.aicofindia.com/AICEng/Pages/AICAboutUs.aspx |title=About Us }}</ref><ref>{{cite web|title=Agriculture Insurance Company of India Ltd|url=http://business.mapsofindia.com/india-company/a/agriculture-insurance-company-of-india-ltd.html|publisher=Business Maps of India.Com|access-date=2 July 2013}}</ref>

AIC is under the administrative control of [[Ministry of Finance (India)|Ministry of Finance]], Government of India, and under the operational supervision of [[Ministry of Agriculture & Farmers Welfare|Ministry of Agriculture]], Government of India. [[Insurance Regulatory and Development Authority]] (IRDA), Hyderabad, India, is the regulatory body governing AIC.<ref>{{Cite web |last=Bhatla |first=Prabhjeet |date=2020-10-20 |title=Agriculture Insurance Co. Joins Hands with IPPB For Distribution Of Crop Insurance Schemes |url=https://www.entrepreneur.com/en-in/leadership/agriculture-insurance-co-joins-hands-with-ippb-for/358095 |access-date=2023-08-21 |website=Entrepreneur |language=en}}</ref>

The [[Government of India]] designated AIC as the sole implementing agency for the National Agricultural Insurance Scheme (NAIS), a crop insurance programme.

From Kharif 2016, the Government has launched a new Crop Insurance Scheme – Pradhan Mantri Fasal Bima Yojna (PMFBY).<ref>{{Cite web |date=2024-01-13 |title=Centre’s crop insurance scheme finds more takers |url=https://indianexpress.com/article/india/centre-crop-insurance-scheme-finds-more-takers-9108232/ |access-date=2025-08-05 |website=The Indian Express |language=en}}</ref> AIC is the leading Implementing Agency of this Scheme.

Since its inception, AIC has participated in crop insurance schemes in India and has insured farmers under these programmes. According to available data, it accounts for over 50% of the crop insurance market in the country.

==See also==
* [[Agricultural insurance in India]]

==References==
{{Reflist}}

== External links ==
* {{Official website|https://www.aicofindia.com/}}
* https://financialservices.gov.in/beta/en/public-sector-insurers

{{Insurance in India}}

[[Category:Financial services companies established in 2002]]
[[Category:Insurance companies of India]]
[[Category:Agriculture companies of India]]
[[Category:Companies based in New Delhi]]
[[Category:Agricultural insurance in India]]
[[Category:Public sector in India]]
[[Category:Government-owned insurance companies of India]]
[[Category:India government-related lists]]

Agriculture Insurance Company of India - Revision history

BeckyK8455 at 08:06, 27 March 2026