August 19, 2017 6:27 AM ET

Insurance

Company Overview of United India Insurance Co. Ltd.

Company Overview

United India Insurance Company Limited provides non-life insurance products and services in India and internationally. It offers motor, travel, personal accident, householder’s, shopkeeper’s, fire, marine, industrial, liability, micro, credit, and other miscellaneous insurance products, as well as health insurance products. The company, through its subsidiary, Zenith Securities and Investments Limited, engages in investment activities. It offers its products and services through agents, dealers, bancassurance partners, and brokers. United India Insurance Company Limited was incorporated in 1938 and is headquartered in Chennai, India.

24, Whites Road

Chennai,  600014

India

Founded in 1938

16,345 Employees

Phone:

91 44 2852 0161

Key Executives for United India Insurance Co. Ltd.

Chairman and Managing Director (Offciating)
Chief Financial Officer, General Manager and Financial Advisor
Chief Public Information Officer and Chief Manager
Chief Compliance Officer and Deputy General Manager
Chief Manager, Compliance Officer of Corporate Governance Guidelines and Company Secretary
Compensation as of Fiscal Year 2017.

United India Insurance Co. Ltd. Key Developments

India Eyes IPOs For Five Insurers

Government of India could launch IPOs for up to five state owned insurers this year. In its budget published last week the Indian government said it would sell up to 25% stakes in state-owned General Insurance Corporation of India; The Oriental Insurance Company Limited; The New India Assurance Co. Ltd.; United India Insurance Co. Ltd. and National Insurance Company Limited; in the financial year starting in April. Bankers expect the sales, which could raise as much as $1.6 billion (£1.3 billion), to happen by the end of this year. India's cabinet approved the sales in January, and the government plans to cut their stakes in the insurers to around 75% from 100%. The Indian government is expected to appoint banking advisors within the next couple of months.

India May Name Advisors For Stake Sell in Insurance Companies

Government of India is seeking to divest unspecified stakes in The New India Assurance Co. Ltd., United India Insurance Co. Ltd., The Oriental Insurance Company Limited, National Insurance Company Limited and General Insurance Corporation of India in the financial year starting in April, 2017. Bankers expect the sales to happen by December. India's federal cabinet approved the insurance stake sales in January, and the government had said at the time that they planned to cut their stakes in the companies in one or more tranches to 75% from 100% currently. According to bankers, India is likely to within months name advisors for its planned listing of five state-run general insurers to raise as much as $1.6 billion in 2017.

Government To Sell 25% Stake In General Insurance Companies

The Cabinet approved plans to divest a 25% stake in each of the five fully-owned public sector general insurance companies by listing these on stock exchanges. Finance minister Arun Jaitley told a news conference that all the five state-owned general insurance companies - The New India Assurance Co. Ltd., The Oriental Insurance Company Limited, National Insurance Company Limited, United India Insurance Co. Ltd. and General Insurance Corporation of India will be listed on stock exchanges by way of issue of fresh shares or offer for sale (OFS).

Recent Private Companies Transactions

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