United India Ins targets Rs80bpremium

FE Team | Published: November 13, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

CHENNAI, Nov 12 (IANS): Logging an average business growth of 27 per cent this fiscal, public sector non-life insurer United India Insurance Company Ltd last Thursday said it is targetting a gross premium of Rs 80.0 billion and sizeable reduction in underwriting losses. "We are targeting a premium income of Rs 80.0 billion this year at 25 per cent growth rate in business," United India Insurance Company Ltd chairman and managing director G Srinivasan told reporters here. "We plan to bring down our underwriting losses - premium less claims outgo - to Rs 9.0 billion from last year's figure of Rs 17.60 billion," he added.