Latest news with #UnitedIndiaInsuranceCompany
The Hindu
30-05-2025
- Business
- The Hindu
United India Insurance back in black, posts ₹154 crore net in FY25
United India Insurance Company returned to profitability reporting ₹154 crore net profit for 2024-25. Compared to the ₹804 crore loss in previous fiscal, it is an impressive turnaround. It has made profit after several years, the State-owned general insurer said. Gross direct premium income stood at ₹20,072 crore, combined ratio improved 4% to 121.67% and customer base raced past 2 crore mark, the country's 4th largest general insurer said. 'Our relentless focus on technological innovation, customer satisfaction and risk management enabled us to adapt to evolving industry dynamics and emerge stronger,' CMD Bhupesh Sushil Rahul said. Through prudent underwriting and strategic loss control measures, it has reclaimed its position as a profitable force in the industry, UIICL said. In alignment with IRDAI's vision of 'Insurance for All by 2047' it has unveiled a range of cutting-edge insurance solutions designed to meet changing needs of customers while enhancing market competitiveness. The list includes comprehensive personal accident policy Sampurna Suraksha Bima; parametric insurance product Param Mitra Suraksha Policy; usage-based motor insurance cover tailored for customers with limited vehicle usage; United Cyber Kavach Policy; and home protection plan securing both property and belongings United Value Griha Raksha Policy. By prioritizing customer-centric strategies, seamless claims processing and enhanced service standards, the company continues to reinforce its commitment to delivering financial security, strengthening customer trust and redefining industry leadership in the ever-evolving insurance landscape. UIICL has presence across India and offers a portfolio of insurance solutions, including health, motor, property, and marine coverage.
New Indian Express
04-05-2025
- Business
- New Indian Express
Nrusinghnath Temple secures Rs 5.4 crore insurance cover for Baisakha Mela
BARGARH: To ensure safety of devotees attending the six-day long Baisakha Mela, the Sri Sri Nrusinghnath Temple Trust has secured an insurance coverage of Rs 5.40 crore for the festival. This means each participating devotee is covered for accidents and calamities during the event, marking it a first for the temple to have opted for such a social security measure. The Baisakha Mela, hosted at the Nrusinghnath Temple near Paikmal, is celebrated to mark the birth anniversary of Lord Nrusingha. It will take place from May 7 to May 12 this year. On March 28, the temple trust resolved to get an insurance cover for Baisakha Mela and approached United India Insurance Company for a quote. After several rounds of negotiations, the insurance company offered a coverage of Rs 5.40 crore against a premium of Rs 1,57,648 for the six-day festival. The premium was paid on April 29, and the insurance cover was successfully secured, said sources. Hiramani Bhoi, a local resident and lawyer who negotiated on behalf of the temple trust, said, 'Every person who steps into the temple during the Baisakha Mela will be covered under insurance during the six days. The coverage will be for Rs 7,50,000 per head in the case of accidental death on the temple premises, regardless of their age, gender, or any other criteria.'
