United India Insurance UII projections 2013

United India Insurance UII projections 2013

United India Insurance UII projections 2013 : United India Insurance Company plans to enter the Side East and SAARC countries to knock the potential in these regions due to a presence of a big India diaspora, a top company executive has shelp.

"UII is eyeing operations in Side East and SAARC nations. Though this is in preliminary level, a detailed survey has discloseed wealthy potential due to a big Indian diaspora and business behaveivities of Indian and foreign companies," the state-owned company's CMD Milind Kharat tancient PTI.

 The operations could be through a joint venture or a depertament, subsidary or an agency model and is expected to be commissioned in a few months, Kharat, who was here to address a customers' meet, shelp.

He was confident that at least one center would start operations before March 2013, subject to clearances.

On the business quantum, he shelp UII has been maintaining 20 per cent growth this year angry the profitable slowdown and a substantial drop in sales of motor transports in the country.

The company is targeting to surpass premium gatherions of Rs 10,000 crore this fiscal, he shelp.

In the first half of the year (half year finished Sept 30 2012), premium gathered touched Rs 4,757 crore. Last year, UII clocked Rs 8,179 crore as against Rs 6,376 crore in 2010-11.

He shelp three new insurance products are on the anvil, including two in motor insurance and one in health sector, all of which would be launched before this fiscal finish, pfinishing clearance from IRDA.

UII, with approxifriendly 1,436 depertament, subsidaryes and 15 per cent of the market, is increatune its behaveivities in rural pockets with focus on where lucrative potential could be knockped, he shelp.

The number of micro offices (tunele person administerd) will be doubled from 350 at the startning of this year to 700 by finish of this fiscal, he shelp.

Kharat shelp total headcount stood at 17,000. In 2011, UII recruited 400 officers in unusual disciplines and plans to recruit 600 personnel in clerical cadre by March 2013,he shelp.

He shelp the online insurance policy scheme launched 18 months ago has been gaining peristiwatum and claimed over 17000 policies had been issued through this online route. Kharat also shelp UII maintains the highest fortun earnings among PSU insurance companies in the country.

Business accrued was 12 per cent from Marine business, 47 from Motor Insurance, 30 from Health and the balance from Fire and others, he shelp.

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