Future Plans
Logging an average business growth of 27 percent in 2011-12, India's leading non-life insurer United India Insurance Company Ltd declared that it is targeting a gross premium of Rs.8,000 crore and sizeable reduction in underwriting losses - premium less claims outgo - to Rs.900 crore from last year's figure of Rs.1,760 crore.
The company would focus the retail, and small and medium enterprises (SME) segments for growth. It is in the process of adding further to its 48,000 agents and also to open around 100 one-man offices across the country. Currently, there are 400 such micro-offices bringing in around Rs.275 crore premium.
Company is waiting for approval from the insurance regulator IRDA to introduce three products under the health portfolio
Read more about this topic: United India Insurance Company Limited
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