In a significant move to boost the development of Amaravati as the state capital, The New India Assurance Co. has proposed to establish its regional office in the city.

The project, which will involve an investment of Rs 100 crore, is expected to generate 200 to 225 jobs across various technical and administrative domains. The regional office will also house AI specialists to create innovative insurance products. This new facility will provide comprehensive general insurance services to rural, social, urban, and corporate sectors, thereby increasing insurance penetration in the state. It is expected to strengthen financial inclusion, especially among farmers, self-help groups, and the general public.

As  Andhra Pradesh Capital Region Development Authority (APCRDA) officials noted that this initiative will improve insurance access and contribute to economic growth. A formal sale agreement between APCRDA and The New India Assurance was executed, marking another step toward making Amaravati a key institutional and economic hub, particularly in the growing Amaravati FinTech Zone.