United India Insurance plans to enter Middle East, SAARC

United India Insurance Company plans to enter the Middle East and SAARC countries to tap the potential in these regions due to a presence of a large India diaspora, a top company executive has said. “UII is eyeing operations in Middle East and SAARC nations. Though this is in preliminary stage, a detailed survey has revealed rich potential due to a large Indian diaspora and business activities of Indian and foreign companies,” the state-owned company’s CMD Milind Kharat told reporters. Read more

My agenda is to cut down underwriting losses- Milind Kharat, CMD, United India Insurance

Milind Kharat, the man at the helm of United India Insurance Co., has over three decades of experience in the insurance industry. A post-graduate in economics from the University of Bombay and a fellow of the Insurance Institute of India, he has held different positions at various levels with diverse profiles in public sector insurance companies, including New India Assurance Co Ltd and Agriculture Insurance Co. of India Ltd. He also had a couple of international stints in Japan and Fiji. In an exclusive interview to Business Line, the first after he took over as the Chairman and Managing Director of the Chennai-headquartered insurance company last month, he said his primary agenda is to cut down underwriting losses, and improve focus on rural penetration. Read more

United India Insurance to cross 10,000 cr premium by FY13 end: CMD

Public sector United India Insurance would cross the Rs 10,000 crore premium mark by the end of this financial year, a growth rate of 26 per cent, a top company official said today.

“We are confident of crossing Rs 10,000 crore on total premium collected. We expect to grow at 26 per cent by the end of March 2013,” United India Insurance Chairman and Managing Director Milind Kharat told reporters here. Read more