United India Insurance to enter overseas market

India Infoline News Service | Mumbai |

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

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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