Universal Sompo General Insurance Company which is one of the last entrants in the non-life insurance sector announced that it has raised Rs.200 crore of equity from its promoters. Universal Sompo is a joint venture between Allahabad Bank, Karnataka Bank, Indian Overseas Bank, Dabur Investments and Sompo Japan Insurance.

All the five promoters collectively added Rs.200 crore to the capital in accordance with their existing shareholding in the company. This infusion of additional capital comes...  Read More »

On Saturday, Finance Minister Pranab Mukherjee inaugurated Universal Sompo General Insurance Company’s new branch office and agents training institute at Raghunathganj.

Speaking on the occasion, Pranab Mukherjee said that, “In 1970s, the central government nationalized general insurance and life insurance companies, but we saw that the government was not being able to reach out to the masses. Following this, we allowed private companies to enter the insurance sector. Since then the private...  Read More »

Customers having a relationship with the Allahabad bank will not have to look beyond their bank for their health insurance needs. Universal Sompo General Insurance Co. Ltd. (USGICL) is a partnership between private insurer Sompo Japan Insurance Inc, Dabur Investments Corp and leading banks of our country Allahabad Bank, Karnataka Bank and Indian Overseas Bank. The company was set-up in 2008 and offers insurance in almost all product lines viz. general accident, property, marine, motor and workmen...  Read More »