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April 21, 2015 1:13 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 fire, marine cargo, marine hull, motor, workmen comp, personal accident, aviation, engineering, liability, industrial, 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 or 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

16,823 Employees

Phone:

91 44 2852 0161

Key Executives for United India Insurance Co. Ltd.

Chairman, Managing Director, Member of Investment Committee, Member of Policyholders Protection Committee, Member of Risk Management Committee, Member of Property Review Committee and Member of Corporate Social Responsibility Committee
Chief Information Officer and Chief Manager
Chief Grievance Officer, General Manager and Member of Investment Committee
Principal Compliance Officer of Anti-Money Laundering and Deputy General Manager
Chief Manager, Compliance Officer of Corporate Governance Guidelines and Company Secretary
Compensation as of Fiscal Year 2014.

United India Insurance Co. Ltd. Key Developments

New India Assurance (Mumbai), National Insurance (Kolkata), United India Insurance (Chennai) and Oriental Insurance (New Delhi) Plans To Merge

Employee unions of The New India Assurance Company Limited, National Insurance Company Limited, United India Insurance Co. Ltd. and The Oriental Insurance Company Ltd called for merger of all companies to form a single general insurance. Sharad Jadhav, The New India Assurance Company Limited union President, said," During our meeting with the minister and financial services secretary GS Sandhu, we demanded merger of all the four PSU non-life players to form a monolithic corporation, which shall strengthen our market share and help us serve rural and social sectors better. If all the four PSU non-life insurers join together to form a single monolithic corporation, then we can save our premium income to the tune of Rs 10,000 crore annually which will further help boost our profitability."

United India Insurance Company Announces Earnings Results for the First Quarter Ended June 30, 2014

United India Insurance Company announced earnings results for the first quarter ended June 30, 2014. the company has reported an 8.54% increase in net profit in the June quarter at INR 2,287.6 million compared with INR 2,107.6 million in the same period last fiscal. The investment income in the quarter grew 18% to INR 5,310 million against INR 4,470 million in the same period last fiscal. The company reported an 11% growth in its premium to INR 27,290 million in the first quarter.

United India Insurance Co. Ltd. Receives Deal for Government Insurance Scheme

United India Insurance Co. Ltd. announced that it has won a deal with the Indian government to provide insurance to pensioners. The programme is to last for four years and the new health insurance scheme has been aimed at providing health care assistance to pensioners (including spouse) on a 'cashless' basis.

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