United India Insurance Company Limited, a Public Sector General Insurance completed a premium of Rs.4,757 Crores up to the first half of the current year and growing at over 20%, which is more than the industry’s average, and would cross Rs.10,000 Crores in the current year. The Company has robust financial strength with a net worth of Rs.4,900 Crores as on date with a market value of assets of over Rs.19,514Crores.The Company enjoys a high solvency ratio of 2.78, which is the highest among the...  Read More »

Mr. Milind Kharat has been appointed as the new Chairman cum Managing Director (CMD) of the Chennai-based public sector insurer, United India Insurance Company Limited with effect 18th October 2012.



Mr. Kharat takes over from the outgoing CMD G.Srinivasan who is now the CMD of New India Assurance, another public sector general insurance company. Prior to this new role, Mr. Kharat served as the CMD of Agriculture Insurance Company of India Ltd. In the past, Mr. Kharat has worked as General...  Read More »

Mr. G Srinivasan, former Chairman cum Managing Director (CMD) of United India Insurance Company Ltd, will now take over as the CMD of New India Assurance. After the suspension of Mr. M Ramadoss in 2011, there was no chairman at New India Assurance for more than a year.

The government finally cleared the appointment process of Mr. Srinivasan as the head of New India Assurance. The government had suspended former chairman of New India, M Ramadoss as there were some serious allegations against...  Read More »

Chennai-based public sector general insurer, United India Insurance announced the launch of its mobile application which allows existing customers to renew their policy using their mobile phones.

Existing customers of United India can visit this link - https://portal.uiic.in/livemobile/ and renew their motor, health or personal accident insurance policies by paying the renewal premiums through their mobile phones. This mobile application is called M-Power.

On the announcement of this...  Read More »

Maruti Suzuki India Limited, which has a market share of about 45% of the Indian passenger car market (as of March 2011) may face losses of over Rs.400 crores due to lack of sufficient insurance policies.

On 18th July 2012, Maruti's Manesar plant was hit by violence as factory workers attacked supervisors and started a fire that killed a company official and injured 100 other people. The violent mob set fire to the factory building causing some damage to the plant and machinery. In a...  Read More »

United India Insurance, which is one of the four public sector general insurance companies, has announced its near-term expansion plans. United India Insurance plans to widen its distribution network by adding 50,000+ agents across the country in the next two to three years.

United India Insurance Company Limited (UIIC), which is headquartered in Chennai, has a net worth of 4,587 crores (as of September 30, 2011) and 17,000+ employees. United India reported over 50% jump in its profit after...  Read More »

The state-run Oil and Natural Gas Corporation (ONGC) is expecting a higher insurance premium to renew the cover of its offshore assets which are estimated to be valued at $33.7 billion. Last year, ONGC paid a premium to the tune of $25 million to insure its offshore assets and it may have to pay a higher premium this year to obtain same amount of cover.

There are several reasons cited for probable increase in insurance premiums of ONGC but the primary one could be due to the global rise in...  Read More »