Iype M Jacob
Senior General Manager
The New India Assurance Co.Ltd
For half a century, New India Assurance has had a position second to none in the insurance sector of the Sultanate of Oman. The story of the company’s saga of success on these shores will be incomplete without mentioning the stellar role played by Iype M Jacob, Senior General Manager, The New India Assurance Company Ltd, under Chief Agent Abudul Aziz and Brothers LLC in Oman. For more than four decades, he has been contributing to the fortunes of the insurance behemoth in more ways than one. It would not be wrong to say that he has watched the company grow in Oman and has also grown in stature over the past 44 years.
From Humble Beginnings
Hailing from Bharanikkavu in Alappuzha district of Kerala in India, he was born to Jacob Maliel, who was a store’s manager in HEC Ranchi, Bihar, and Annamma Jacob, in 1953. A commerce graduate specialized in Accounting & Finance, Jacob is good at volleyball and loves reading and culinary pursuits. Before moving to the shores of the Sultanate in search of better opportunities, Iype worked in a few companies in India.
He served as the Head Accountant of Vandana Minerals in Ranchi, Bhihar from 1972 to 1976. Iype was also the Accounting Head of Kanaiya Transport from 1977 to 1980. He also had a stint with Sanjay Moulding and Extraction in Ranchi which was then in the state of Bihar.
Shores of Oman Beckon
The year 1981 was providential as far as Iype was concerned as it was the turning point in his life. That year, he got a chance to come to Muscat where he joined the local franchise of insurance behemoth New India Assurance as an Accountant. From then onwards, there has been no looking back.
Iype’s dedication, perseverance, and hard work saw his career graph go on an upward gallop and he was promoted to Director after 40 years. He played a major role in contributing to the fortunes of the franchise of the company which began with just four employees and a turnover of one million rials. Today, it counts more than 100 staff, and clocks in more than 30 million rials. It also has eight branches in different locations spread across the Sultanate. His long stint proves that loyalty towards a firm that grows and lets its employees grow alongside is still relevant in a world where hopping companies in the wink of an eye appears to be the order of the day. Iype is also fortunate to have rubbed shoulders with three generations of the management of Chief Agents Abdul Aziz and brother LLC throughout his illustrious career. Currently Mr. Majid Abdul Rahim Jaffer Al Bahrani is the chairman of Chief Agents, Abdul Aziz and brothers LLC.
50 Years of Remarkable Growth
Earlier this year, the company celebrated the golden jubilee of its Foundation Day in the Sultanate. A glittering ceremony was held in Muscat to mark the occasion. It was graced by the presence of CMD Neerja Kapur, General Managers from the Head Office Mukta Sharma and CS Ayyapan. The guests included Indian Ambassador to the Sultanate Amit Narang, Vice-President of the Insurance Sector Ahmed Ali Saif Al Maamri and Director of CMA Ahmed Bin Salim Al Harrasi.
The celebrations were an ode to 50 years of innovative growth and service to the nation. It also sent a powerful message of the company’s dedication to its stakeholders and the communities. New India Assurance also made it clear that it was committed to reinterpreting its yardsticks and creating new ones in its journey towards excellence in the insurance segment. Mr.Jacob has played pivotal role in formulating and implementing New India’s policies tailored to the Middle East insurance market, ensuring compliance with local regulation. He has worked with more than 10 chief operating officers in Oman which was a remarkable achievement in his carrier. He also act as a spearheaded in the companies digital transformation initiatives to enhance customer experience and stream line the work flow. He consistently maintains good relationship between the top managements of other insurance companies, intermediaries and regulatory authorities for fostering collaboration, knowledge-sharing and strategics partnership that enhance market positioning and business growth.
Family
Iype is married to Jolly and the couple has two daughters—Leena and Merin, Leena is married to Mr. Thomas Philip Kalloor, who is working in Dubai and they have two children Hannah and Migel. Merin is married to Mr. Allen Sam Mathew, and they are blessed with a daughter Eliza, they reside in Oman.
Contact Information
The New India Assurance Co.Ltd
P.O. Box 2907, Ruwi, P C 112,
Sultanate of Oman.
Mobile:+96899254749
Tel: + 968 24930774
website: www.newindiaoman.com
