United India Insurance to open 530 more branches this year

The country’s second largest general insurance company United India Insurance Co Ltd (UIICL) has decided to open 530 more branches across the country by the end of the year, 2013. At present, the state-owned insurer has 1,340 branches in India.

For the fiscal year 2013-14, the insurer has set a premium collection target of Rs 11,000 crore. Last year it had collected a total premium of Rs 9,266 crore registering a net profit of Rs 526 crore.

 United India Insurance settles over 10 lac claims annually and had the highest solvency ratio of 2.52, UIIC Chairman-cum-Managing Director, Sri Milind Kharat said on Monday.

 In order to its expansion programme, the insurer is on a recruitment drive for 294 administration staff. While other insurers- National Insurance, New India Assurance and Oriental Insurance are recruiting 423, 494 and 223 administration staff respectively.

Online registration for the post commenced on 16th July, and the last date is 3rd August, 2013. The tentative date for written test is 8th September.

Source : http://www.insuringindia.com/