NEWS & ADVICE : AUTO INSURANCE
United India Insurance to emphasis on retail segment for growth
By Neelima Shankar
Feb 18, 2013
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Public sector general insurer, United India Insurance to focus more on retail segment along with emphasis on underwriting losses will drive the growth of the company, a top company official said.

"Our focus is on retail segment to drive growth in the future. As part of the strategy, we have opened 410 micro offices in rural areas. We are increasing our agent strength and tying up with self-help groups to reach out to more people," said Mr. Milind Kharat, Chairman and Managing Director of United India Insurance.

Mr. Milind Kharat also said the company, which recently tied up with Agriculture Insurance Company to provide crop insurance, will soon come up with new products in health and motor segment.

United India Insurance had a total premium of around Rs 8200 crore in the previous fiscal and aims to touch a gross written premium of Rs 10,000 crore by the end of the current financial year.

"We hope to attain a profit after tax of around Rs 700 crore in this financial year," Mr. Kharat said.


 


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