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United India Insurance to enter overseas market

However, the insurer is not signing any tie-up with other public sector general insurers for the overseas foray

July 08, 2013 4:09 IST | India Infoline News Service
United India Insurance on Monday said that it is in talks with Life Insurance Corporation of India to offer a combo product of life and general insurance, according to a media report.

United India also plans to enter the SAARC and the Gulf markets for general insurance during FY14. However, the insurer is not signing any tie-up with other public sector general insurers for the overseas foray, the report added.

In May, United India said that it targets to achieve around Rs. 110 billion premium with a profit after tax (PAT) of Rs. 6 billion in the current fiscal.

United India net profit zoomed 36% to Rs. 5.27 billion for FY13 as against Rs. 3.87 billion for the previous year.


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