January 19, 2017 12:37 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, Financial Advisor and Member of Investment Committee
Chief Grievance Officer, General Manager, Director, Member of Property Review Committee and Member of Corporate Social Responsibility Committee
Age: 56
Chief Public Information Officer and Chief Manager
Chief Compliance Officer and Deputy General Manager
Compensation as of Fiscal Year 2016.

United India Insurance Co. Ltd. Key Developments

Listing Plan For PSU Insurers May Finalize In Two Months

The New India Assurance Co. Ltd., National Insurance Company Limited, The Oriental Insurance Company Limited, United India Insurance Co. Ltd., Export Credit Guarantee Corporation of India Ltd., Agriculture Insurance Company of India Limited and Life Insurance Corporation of India are looking to list its shares through an public offer. The Finance Ministry is likely to finalize contours of listing of public sector general insurance companies in a couple of months. "Public shareholding in government-owned companies is a means of ensuring higher levels of transparency and accountability. To promote this objective, the general insurance companies owned by the government will be listed in the stock exchanges," Finance Minister Arun Jaitley had said. "Public shareholding in government-owned companies is a means of ensuring higher levels of transparency and accountability. To promote this objective, the general insurance companies owned by the government will be listed in the stock exchanges," he had said.

The Central Government Owns Seven General Insurers Mulls IPO

General Insurance Corporation of India, The Oriental Insurance Company Limited, The New India Assurance Co. Ltd., United India Insurance Co. Ltd., National Insurance Company Limited, Agriculture Insurance Company of India Limited and Export Credit Guarantee Corporation of India Ltd. is looking to list its shares through an public offer. United India Insurance Company Ltd has taken a preliminary decision to list its shares through a public offer raising around INR 15 billion, said top officials. "The Board has taken a view to list the shares and rise around INR 15 billion. This is the first step and not the final step. The owner central government has to take the final call on the matter," the officials told on the condition of anonymity. "We have not decided on the share capital and the premium at which the shares are to be listed," they added. Presenting the 2016-17 budget, Finance Minister Arun Jaitley said "Public shareholding in government owned companies is a means of ensuring higher levels of transparency and accountability. To promote this objective, the general insurance companies owned by the government will be listed in the stock exchanges."

United India Mulls Listing Of Shares

United India Insurance Co. Ltd. has taken a decision to list its shares for raising around INR 1,500 crore. The central government has to take the final call on the matter.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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