United India Insurance - Latest News Update, Information, Photos & Videos on United India Insurance at Lokmat Times

"There is a huge requirement of capital by all the public sector (general insurance) companies. We have requested the government to infuse capital so that the companies can grow. We are hopeful that our request would be met," National Insurance Company's Chairman and Managing Director Tajinder Mukherjee said.According to her, general insurance is highly capital intensive industry and for every Rs100 liability that it creates, there should be Rs 150 worth of assets to back it.She said the industry experienced an "unprecedented growth" in the last few years as it witnessed CAGR growing around 16-17 in the last 5-7 years."As we want grow our business, capital has to be infused. With rise in premium, there is requirement of adequate capital to meet the regulatory standard," she said at a interactive session organised by Bharat Chamber of Commerce.Mukherjee felt the government's proposal to merge three public sector general insurers- National Insurance Company, Oriental Insurance Company and United India Insurance - into a single insurance entity and subsequently list the entity would not be "restrictive" in terms of competition."It will make the merged entity a stronger company which will have more capacity. It is a government's call and we cannot give a time line and how it will happen and in what form," Mukherjee said.She said the insurance industry in India consists of 63 companies, out of which 24 are in life insurance business and 39 are non-life insurers.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

United India InsuranceFOLLOW

United india insurance, Latest News

National :Delhi court awards Rs 44 lakh compensation to road accident victim with 82 pc disability

New Delhi [India], May 5 : Delhi's Rohini Court awarded a compensation of Rs 44 lakh to a housemaid ... ...

Business :'Rs 2,500 cr recap for PSU insurers pre-merger may be insufficient'

The Finance Ministry will recapitalise the state-run general insurance companies ahead of taking further steps in their mergers to shore up their balance sheet and solvency ratio but the amount appears to be short of the requirement of the PSUs insur ...

National :PSU general insurers are hopeful of capital infusion by Centre

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 ...