Agriculture Insurance Company of India Ltd. (AICL) was established on 20th December, 2002 to promote crop insurance business and to protect the farmers against the crop losses suffered due to natural calamities. General Insurance Corporation of India (GIC), NABARD and four public sector general insurance companies have contributed towards the share capital of the Company. The authorized capital of the company is Rs.1500 crores with initial paid-up capital of Rs.200 crores. The company’s Head Office is located in New Delhi. The Company having received approval from Insurance Regulatory& Development Authority (IRDA), the Company commenced its business operations w.e.f 1st April 2003.