July 23, 2017 8:19 PM ET

Insurance

Company Overview of The Oriental Insurance Company Limited

Company Overview

The Oriental Insurance Company Limited offers general insurance services in India and internationally. The company offers motor, personal accident, shopkeepers, householders, death/permanent, disablement, health, family floater, marine, and other insurance policies. It provides its products through bancassurance channels, agencies, brokers, and broker specialized offices, as well as online. The company was incorporated in 1947 and is headquartered in New Delhi, India. The Oriental Insurance Company Limited is a subsidiary of Oriental Government Security Life Assurance Company Ltd.

Oriental House

A-25/27, Asaf Ali Road

New Delhi,  110002

India

Founded in 1947

Phone:

91 11 2328 7204

Fax:

91 11 2328 7204

Key Executives for The Oriental Insurance Company Limited

Chairman and Managing Director
Age: 57
CFO, GM & Financial Adviser
Chief Vigilance Officer & General Manager
Company Secretary
General Manager and Whole-Time Director
Compensation as of Fiscal Year 2017.

The Oriental Insurance Company Limited Key Developments

Oriental Insurance Company Limited Appoints AV Girija Kumar as Chairman-Cum-Managing Director

AV Girija Kumar has been appointed as Chairman-cum-Managing Director in Oriental Insurance Company Limited (OICL). He was earlier working as General Manager in United India Insurance Company Limited (UIICL).

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.

Recent Private Companies Transactions

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

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