About United India 1000words
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United India Insurance Company is an Indian leading General Insurance company,fully owned by Government of India and is headquartered in Chennai, India.[1] It was incorporated on 18 February 1938, and was nationalised in 1972.
United India Insurance Co. Ltd.
Type
PSUIndustryGeneral insurance, Financial servicesFounded18 February 1938; 81 years agoHeadquarters
Chennai
,
India
Number of locations
2248
Area served
India
Key people
Girish Radhakrishnan (Chairman and Managing Director)ProductsMotor Insurance, Health Insurance, Fire ,Marine, Rural ,Personal Accident Insurance
Operating income
300 croresOwnerGovernment of India
Number of employees
17,361Websiteuiic.co.in
Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insuranceand National Insurance got autonomy.
Twelve Indian insurance companies, four co-operative insurance societies, five foreign insurers with Indian operations and the general insurance operations of the southern region of Life Insurance Corporation of Indiawere merged with United India Insurance Company Limited to form the company.[2][3][4]
After nationalization, United India has 17,361 nos. work force spread across 2248 offices providing insurance cover to more than 10 million policy holders. The Company has a variety of insurance products to provide insurance cover from bullock carts to satellites.[citation needed]
United India has been in the forefront of designing and implementing complex covers to large customers, as in the cases of ONGC Ltd, GMR - Hyderabad International Airport Ltd., Mumbai International Airport Ltd., Tirumala-Tirupati Devasthanam, Kochi Metro Rail Corporation etc. United India has also been the pioneer in taking Insurance to the rural masses with large scale implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana (covering 4.5 million women in the state of Madhya Pradesh), Tsunami Jan Bima Yojana (in 4 states covering 459,000 of families), National Livestock Insurance and many such schemes.[citation needed]
The Gross Domestic Premium for the Financial Year 2018-19 is Rs.16385 Cr.
On 2 February 2018, the Government of Indiaannounced the merger of United India Insurance Company with Oriental Insuranceand National Insurance Company Limited.
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