United India clocks 22% growth

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Chennai: United India Insurance Company has reported a good performance for the second year in succession by clocking 22.4 per cent growth in premium income with the gross domestic direct premium at Rs. 5,239.05 crore against Rs. 4.277.77 crore in the previous fiscal.

Addressing presspersons here on May 3, G. Srinivasan, Chairman-cum-Managing Director, said the accretion of Rs. 961.28 crore to its premium for 2009-10 was the highest in the industry.

While the company earned Rs. 1,688.57 crore through investment operations (Rs. 1,086.94 crore), a growth of 55.4 per cent, underwriting losses stood at Rs. 880 crore (Rs. 540.99 crore).

The company had increased its market share despite intense competition from private and government-owned market players, Mr. Srinivasan said.
The market share stood at 14.59 per cent against 13.71 per cent in the previous year.

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