Universal Sompo General Insurance’s premium collection up in December 2011

13 Feb 2012 17:04:14Source: Dion Global

Universal Sompo General Insurance’s gross premium rose by 60% to Rs 38.59 crore in December 2011 against Rs 24.14 crore in December 2010.

Universal Sompo General Insurance is a joint venture between the Allahabad Bank, Sompo Japan Insurance Inc, Dabur investments, Karnataka bank and Indian Overseas bank.

The private non life insurance sector has underwritten gross premium worth of Rs 1948.56 crore, up 25% in December 2011.

The company received the License and Certificate of Registration from Insurance Regulatory and Development Authority in November 2007

The non life insurance sector grew by 27% to Rs 17525.27 crore during April-December 2011.

The company is present across almost all product lines, classified into five major classes: Property, Marine, General Accident, Workmen Compensation and Motor.

The gross premium underwritten stood at Rs 290.59 crore during the period April- December 2011, up by 37% against Rs 212.37 crore during the period April- December 2010.