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United India to rejig business set up
Tuesday, 13 May 2008, 19:30 IST
Chennai: City based non-life insurer United India Insurance Co Ltd will rejig its business set up to focus on the retail as well as the corporate segment in a structured manner, said a top official.
Announcing the working results of 2007-08 here Tuesday, the company's chairman-cum-managing director G. Srinivasan said: "As per Boston Consulting Group's recommendations we will have specialised office services particular verticals."
The company closed last fiscal with a gross premium of 
37.39 billion and a net profit of 6.31 billion against 34.98 billion and 5.28 billion, respectively, posted for 2006-07.
The company's board has recommended a dividend of 84 percent amounting to 1.26 billion for the year under review.
According to United India financial advisor Raju Sharan, the company booked a profit of 9 billion from investment activities and the market value of equity portfolio stood at 15.84 billion.
Srinivasan added that the company would open 50 one-man offices this fiscal taking the total to 300.
"The premium earned last year from the one-man offices was around 1.25 billion," he said.
United India will shortly launch two new health insurance policies.
"We are targeting a premium income of 45 billion this fiscal," Srinivasan said.
Source: IANS
37.39 billion and a net profit of 6.31 billion against 34.98 billion and 5.28 billion, respectively, posted for 2006-07.
The company's board has recommended a dividend of 84 percent amounting to 1.26 billion for the year under review.
According to United India financial advisor Raju Sharan, the company booked a profit of 9 billion from investment activities and the market value of equity portfolio stood at 15.84 billion.
Srinivasan added that the company would open 50 one-man offices this fiscal taking the total to 300.
"The premium earned last year from the one-man offices was around 1.25 billion," he said.
United India will shortly launch two new health insurance policies.
"We are targeting a premium income of 45 billion this fiscal," Srinivasan said.
Source: IANS