Universal Sompo targets Rs 800-crore premium income

Universal Sompo General Insurance has set a target to collect a premium of Rs 800 crore during FY2014-15, a company official has said.
"Universal Sompo General Insurance is targeting Rs 800 crore of premium income in 2014-15 with concentrated efforts on health insurance, which comprises about 16 per cent of the overall portfolio," O N Singh, executive chairman of Universal Sompo General Insurance, said at a programme here today.
Universal Sompo is a joint venture of Allahabad Bank (30 per cent), Indian Overseas Bank (19 per cent), Karnataka Bank (15 per cent), Dabur Investment Corp (10 per cent) of India and a 26 per cent holding by Japanese major Sompo Japan Insurance.

He said the company is operating with 98 general insurance products through its pan-India network of 12 zonal offices and 77 branch offices.
Universal Sompo was also rolling out a series of health insurance products for various segments of the population giving more choice and flexible options to our esteemed customers.
The company had turned profitable in 2013-14 after five operational years with a profit of Rs 9.65 crore.