)
United India Insurance (UIICL), the second largest general insurance company, plans to open 530 new offices this year across the country. At present, UIICL website say the company has 1,340 offices in India .
In 2012-13, the company had collected total premium of Rs 9,266 crore and has set a target of reaching Rs 11,000 crore in financial year 2013-14. The company had notched a net profit of Rs 526 crores in 2012-13.
As per the company's chairman and managing director, Milind Kharat, UCIIL settles over 10 lakh claims annually and had the highest solvency ratio of 2.52.
Kharat met Karnataka Chief Minister Siddaramaiah to discuss implementation of various insurance schemes in the state. The company has plans to involve itself in health insurance schemes for the below poverty live (BPL) families.
