Insurance Companies in India

Universal Sompo General Insurance Co. Ltd. is a Public-Private Partnership Joint Venture between Allahabad Bank, Sompo Japan Insurance Inc., Dabur Investments, Karnataka Bank and Indian Overseas Bank. Insurance Regulatory and Development Authority granted the License and Certificate of Registration to the company in November 2007.

Of all the five partnering companies, Sompo Japan Insurance Inc. is a Fortune 500 company based in Tokyo, Japan. With a 15,000 strong workforce and a capital worth 70 Billion Yen, the company earned Rs. 50,000 Crore as total premium income for the year 2006-2007, which is almost twice the premium income of the General Insurance Industry in India.

Products and Services
Universal Sompo offers a wide variety of insurance products and services to its customers. Its insurance products can generally be classified in Retail and Commercial categories, which include customized packages for Personal Accident and Disability, Home, Property, Motor Vehicles, Health etc. The company also provides specialized packages for Small and Medium Enterprises (SMEs) and Corporates such as Operational Insurance, Project Insurance, Liability and Employee Benefit.

Distribution Network in India
The partners of Universal Sompo General Insurance Co. Ltd. include 3 Indian banks, which have an aggregate asset base of Rs. 92,602 Crores. Apart from it, these banks have a total number of more than 4000 branches and distribution centres across the nation. The 5th partner in the company is Dabur Investments, which has more than 15 Million retail outlets in India, being the 4th biggest FMCG company of the country. With such a wide spread distribution network along the nation, Universal Sompo General Insurance Co. Ltd. leverages the maximum potential out of this network to ensure its products reach every corner of the nation.

Presence in India
The Corporate and Registered offices of Universal Sompo General Insurance Co. Ltd. are located in Mumbai, while the company has two Regional Offices located in Gurgaon and Chennai to administer its operations in the North Indian and South Indian regions respectively.