United India Insurance, Indian Bank launch portal
State-run Indian Bank and United India Insurance Company (UIIC) have joined hands to launch a webportal offering online entry and renewal of group insurance policies.
united india insurance
United India Insurance PAT rises 36 pc in FY13
United India Insurance Company recently reported 36 per cent increase in its Profit After Tax (PAT) at Rs 527 crore for the fiscal ended 2012-13 compared to Rs 387 crore achieved during the previous fiscal.
United India Insurance to recruit 7,000 agents and 1,000 staff
The Chennai-based state-run general insurer United India Insurance Company Ltd announced that it will recruit 7,000 agents in the next three months. The insurer has also lined up plans to hire about 400 officers and 600 clerks next year. Read more
United India Insurance to focus on retail segment for growth
Increased emphasis on retail segment along with focus on containing underwriting losses will be the key driver for profitable growth going ahead for the public sector general insurer United India Insurance, a top company official has said. Read more
State insurers latch on to investment income
There’s something about investment return as far as state general insurers are concerned. With gains round the corner, this looks to be their best possible bet to make up for their underwriting losses. And less discounting of premiums and offloading high-risk portfolios mean there’s a double sweetener on the hands. Read more
Mediclaim Insurance plans to cost 30% more
Get ready to pay more for your health insurance. All four public sector insurers — United India Insurance, Oriental Insurance, New India Assurance and National Insurance Company — have got the green signal from the Insurance Regulatory and Development Authority (IRDA) to hike premiums on retail health plans. The state-owned insurers are in the process of filing redesigned products in terms of price and features. Read more
PSU general insurers mull expansion abroad
To tap the Indian diaspora, public sector general insurers are considering expanding their operations to other countries in the next financial year. Given the large number of Indians and Indian businesses in South-east Asia, West Asia and Africa, these regions are emerging as preferred destinations. Read more
United India Insurance Company and Tata AIG to pay Rs 41 lakh compensation: MACT
The Motor Accident Claims Tribunal (MACT) has directed insurers to pay the family of a deceased chartered accountant Rs 41 lakh as compensation towards their claim. The tribunal judge N B Dhaytadak also directed the transport agency to pay an interest at the rate of 7.5% till realisation of the claim amount.
Get ready to shell out more for motor, health & fire insurance
You may soon have to shell out more to buy motor, health or fire insurance. Concerned over the high level of losses in general insurance and pressured by a government direction to move further towards market-linked pricing, insurers are planning to raise premiums by an initial 2-5% and further up gradually, sources said. Some of the hike will be inflation-linked, but a major portion will be due to the new pricing strategies adopted by insurers after assessing risks. Read more
United India Insurance collects premium of Rs 4,757 cr in first half of current year
United India Insurance collected a premium of Rs 4,757 crore in the first half of the current financial year and is likely to cross Rs 10,000 crore in the current year. Read more