August 30, 2016 7:05 AM ET

Insurance

Company Overview of United India Insurance Co. Ltd.

Company Overview

United India Insurance Company Limited operates as an insurance company 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, invests in short and long term investments. United India Insurance Company Limited was incorporated in 1938 and is headquartered in Chennai, India.

24, Whites Road

Chennai,  600014

India

Founded in 1938

16,366 Employees

Phone:

91 44 2852 0161

Key Executives for United India Insurance Co. Ltd.

Chairman and Managing Director
Chief Financial Officer, General Manager, Financial Advisor and Member of Investment Committee
Chief Compliance Officer and Deputy General Manager
Chief Manager, Compliance Officer of Corporate Governance Guidelines and Company Secretary
Chief Risk Officer and Deputy General Manager
Compensation as of Fiscal Year 2016.

United India Insurance Co. Ltd. Key Developments

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.

Six Companies Mulls IPO

At least six firms have lined up initial public offerings (IPOs), five of them state-owned as they look to feed government coffers. The sixth is ICICI Prudential Life Insurance Company Ltd. The combined offerings could raise more than INR 300 billion from the market based on private transactions although valuation details are still sketchy. Investment bankers are yet to be engaged for the sale of stakes in the state-owned companies, said executives at these firms. The state-run companies are general insurers are The New India Assurance Co. Ltd., National Insurance Company Limited, United India Insurance Co. Ltd., The Oriental Insurance Company Limited and General Insurance Corporation of India. All have submitted share-sale proposals to the government. Boards of most companies are seeking approval for 10% stake sale from the ministry," said the chairman of a state-run insurance company who did not want to be identified.

Recent Private Companies Transactions

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

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact United India Insurance Co. Ltd., please visit www.uiic.co.in. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.