Agriculture Insurance Co. of India was formed on December 20, 2002 on an order of the Government of India, and started its operations from April 1, 2003. The company was been formed to cater to the needs of the agriculture sector and allied activities, and cater especially to the farming community. Agriculture Insurance Co. has 6 promoters including General Insurance Corporation (35%), National Bank for Agriculture And Rural Development (30%), National Insurance Company Limited (8.75%), The New India Assurance Company Limited (8.75%), The Oriental Insurance Company Limited (8.75%) and United India Insurance Company Limited (8.75%).

Its Products Include:

• National Agricultural Insurance Scheme
• National Crop Insurance Programme (NCIP)
• Bio-Fuel Tree/Plant Insurance
• Varsha Bima (Rainfall Insurance)
• Weather Insurance (RABI)