United India to cross Rs.8,000 crore premium

February 14th, 2012 - 6:31 pm ICT by IANS  

Chennai, Feb 14 (IANS) United India Insurance Co has logged a fresh premium of Rs.5,872 crore in the first nine months of the current fiscal and hopes to cross a target of Rs.8,000 crore by this fiscal-end.

In a statement issued here Tuesday, the company said it had logged a business growth of 27 percent during the first nine months of the fiscal 2011-12 and closed the period with a premium income of Rs.5,872 crore and an after tax profit of Rs.414.41 crore.

The general insurer claims the ratio stood at 81.45 percent for the period under review.

United India’s combined ratio (ratio of claims, expenses to premium) came down to 114.69 percent for April-December 2011, from 127.64 percent during the corresponding period the previous year.

For the nine months of the current fiscal, the company earned an investment income of Rs.1,106 crore and the market value of the investment portfolio stood at Rs.15,603 crore.

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