The Oriental Insurance Company Ltd. is a public sector general insurance company of India. The headquarter of the company is located in New Delhi. It has 31 regional offices and more than 1800 active branches across the country. The company also has branches in Nepal, Kuwait, and Dubai. The company had recorded a gross premium of Rs. 7282.54 crores in the financial year 2013-2014. For the Financial year 2016-17, the Company procured a global premium of Rs. 11,100 crores. The Company offers more than 170 General Insurance products. The IRDA Registration No. of the Company is "556".Performance in last fiscal 2017-18↵The profits generated by sale of investments increasedby Rs. 851.73 crores and the management expensesdecreased by Rs. 128.25 crores. This coupled withunderwriting losses resulted in profit before taxof Rs 1382.28 crores during the year under reviewcompared to loss before tax of Rs. 1987.43 croresduring the previous year, after taking into accountboth operating profit and investment income. Theprofit after tax was Rs. 1509.89 crores during theyear under review as compared to loss after tax ofRs. 1691.10 crores during the previous year.Solvency Margin: Read More
Contrary to expectations, Union Finance Minister Nirmala Sitharaman has given a miss to the mode of restructuring the three government-owned general insurers in her maiden Budget and in a way the insurance sector has been neglected barring some minor ...
As the non-life insurance industry is witnessing growth in the last few years, public sector general insurers sought capital infusion from the centre and are hopeful that the central government would pay heed to their request in the budgetary proposa ...
