Universal Sompo General Insurance
Universal Sompo General Insurance records 47% rise under PMSBY scheme in TN
Universal Sompo General Insurance, a partner of the Centre's Pradhan Mantri Suraksha Bima Yojana, insured 21 lakh people in Tamil Nadu in the first six months of the current financial year under the scheme, the company said on Sunday. Universal Sampo General Insurance is a joint venture between the public sector Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments, and Sompo Japan Insurance. The Mumbai-headquartered company has disbursed over Rs 45 crore of claims in Tamil Nadu since the launch of the scheme in 2015. The PMSBY scheme is aimed at providing one year of accidental death and disability coverage at a premium of Rs 20 per annum. "Universal Sompo General Insurance has insured 21 lakh people in Tamil Nadu in the first half (April-September 2023) of the current financial year with a growth of 47 per cent over last year," a company statement here said. Universal Sompo General Insurance has 117 offices across the country and offers a range of products caterin
 "Universal Sompo General Insurance records 47% rise under PMSBY scheme in TN")
No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank
In a March 31 Q&A, the lender's MD & CEO dwells on its strengths following the amalgamation with Allahabad Bank
 "No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank")
Allahabad Bank puts stake sale at Universal Sompo on the back-burner
At present, Allahabad Bank holds 28.52 per cent, while IOB holds 18.06 per cent stake in the company
 "Allahabad Bank puts stake sale at Universal Sompo on the back-burner")
Indian Overseas Bank, Allahabad Bank plan to exit Universal Sompo
An e-mail sent to Universal Sompo on the matter remained unanswered
 "Indian Overseas Bank, Allahabad Bank plan to exit Universal Sompo")
Universal Sompo makes Rajiv Kumar MD & CEO
He has been with the company since 2007
