INTRODUCTION

The control on general insurance business started with the insurance act 1938, setting
up the government control. In 1968 it was amended to add more provisions to and also Add
Tariff Advisory Committee. This Tariff Advisory Committee now fixes the rates terms and
conditions for many branches of general insurance like Fire, Engineering, Marine, Hull and
Workmen compensation insurance.

In 1972, the General Insurance (Business Nationalisation) Act was passed. It set up
GIC and its subsidiaries. 107 private companies were merged into GIC and its subsidiaries
and these companies included both Indian and foreign companies. General Insurance
Corporation was formed as company under the Companies Act unlike LIC, which was setup
as corporation. The GIC has only one office in Mumbai and is the holding companies for all
the subsidiaries. It formulates general policy guidelines for general insurance industry and
control the investment and reinsurance policy of the companies.

GIC had four subsidiary companies, namely (with effect from Dec'2000, these
subsidiaries have been de-linked from the parent company and made as independent
insurance companies.

1. The Oriental Insurance Company Limited

2. The New India Assurance Company Limited
3. National Insurance Company Limited
4. United India Insurance Company Limited.

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 COMPANY PROFILE

UNITED INDIA INSURANCE CO

United India Insurance Company Limited was incorporated as a Company on 18th

February 1938. General Insurance Business in India was nationalized in 1972. 12 Indian
Insurance Companies, 4 Cooperative Insurance Societies and Indian operations of 5 Foreign
Insurers, besides General Insurance operations of southern region of Life Insurance
Corporation of India were merged with United India Insurance Company Limited. After
Nationalization United India has grown by leaps and bounds and has 18300 work force
spread across 1340 offices providing insurance cover to more than 1 Crores policy holders.
The Company has variety of insurance products to provide insurance cover from bullock
carts to satellites.

United India has been in the forefront of designing and implementing complex covers
to large customers, as in cases of ONGC Ltd, GMR- Hyderabad International Airport Ltd,
and Mumbai International Airport Ltd Tirumala-Tirupati Devasthanam etc. They have been
also the pioneer in taking Insurance to rural masses with large level implementation of
Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan
Yojana ( covering 45 lakhs women in the state of Madhya Pradesh) , Tsunami Jan Bima
Yojana (in 4 states covering 4.59 lakhs of families) , National Livestock Insurance and many
such schemes.

United India Insurance Co is formed as a subsidiary of General Insurance Corporation

of India. Their Quarters is in Chennai. Now they are the second largest insurer in India and
the largest in Rural insurance and Insurance of major power plants.

Having a work force of 17000+ people and an army of 2000 officers committed to the service
of their customers, they are in a position to make light of the fact that they issue more than 1
crore policies in a year and settle more than 8 lakhs claims annually.

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UNITED INDIA IN KERALA

United India’s Kerala Region was formed in the year 1984 and at the time the
Premium was only around 12 crores. There are 204 officers, 801 staff, 128 development
officers and many agents working with them. They have a wide spread of officers in 16
divisional offices and 49 branch offices.

United India in Kerala has the largest number of Corporate clients with them. FACT
Ltd. Hindustan Newsprint Ltd. Cochin Shipyard Ltd. Apollo Tyres Ltd. BPL, ITI,
Instrumentation Ltd. Etc are all their clients

They are the largest insurers of various Kerala Govt Schemes. Last year they launched
the Kambhenu programme which is probably the largest mass insurance scheme launched the
Rural Insurance.

United India Insurance Highlights

Features Specifications
Network Hospitals 7000+
Waiting Period for Pre-existing Disease 4 years
Incurred Claims Ratio 56.3%
Number of Policies Issued 1230765
Grievances Solved 96.59%
Renewability Lifetime

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 PRODUCT PORTFOLIO

UNITED INDIA INSURANCE

Personal Policies
Commercial Policies

Marine
Insurance
House hold
policy
Industrial
Insurance
Personal
accident policy Motor
Insurance
Mediclaim
policy Miscellaneous
Insurance

Uni-medicare
insurance Liability
Insurance

PERSONAL POLICIES

Health insurance policies form an integral part of its product portfolio. These policies couple
coverage with affordability, making them viable insurance products for a large cross-section
of the Indian insurance market.

The plans on offer are:

1. United India Insurance Family Medicare Policy

2. United India Insurance Gold Policy
3. United India Insurance Individual Mediclaim Policy
4. United India Insurance Platinum Policy
5. United India Insurance Senior Citizen Plan

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6. United India Insurance Super Top-up Policy
7. United India Insurance Top-up Plan
8. United India UNI Criticare Health Insurance
9. United India Insurance Personal Accident Policy

 United India Insurance Family Medicare Policy:

A health insurance policy which aims to cover both the proposer and his/her family. To
enhance the basic chosen sum assured, policyholders under this plan can also choose two
add-on covers to meet ambulance and hospitalisation costs.

Entry Age 18 yrs to 80 yrs.; 3 months for children,

provided at least one parent is also covered
Medical Screening Required for those above 45 yrs. (50% of
costs reimbursed on qualification)
Basis Floater (Family includes self, spouse and
dependent children)
Sum Assured Rs.1 to 5 lakhs in increments of Rs.50,000;
Rs.5 to 10 lakhs in increments of Rs.1 lakh
(chosen sum assured can be enhanced at
renewal)
Discounts No-claim discount: 3% - 15% on renewal
premium; first discount awarded after 3
successive claim- free years and annually
thereafter
- Inpatient hospitalisation expenses: Room
including nursing charges: Up to 1% of
chosen sum assured ICU charges: Up to 2%
of chosen sum assured Expenses incurred
with respect to treating medical
professionals, consumables, equipment,
supplies, OT and other required rooms,

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 necessary tests etc.: Up to chosen sum
assured
- Organ donor hospitalisation expenses

- Pre/Post-hospitalisation expenses: Up to
30 / 60 days respectively; up to 10% of the
chosen sum assured

Coverage - Cataract: 10% of the sum assured per eye,

Rs.25,000 (max.)

- Hernia: 15% of the chosen sum assured,

Rs.30,000 (max.)

- Hysterectomy: 20% of the chosen sum

assured, Rs.50,000 (max.)

- Major surgeries: 70% of the chosen sum

assured, Rs.4 lakhs (max.)

- Specified day care procedures - AYUSH

treatment undertaken at a government-
approved centre

- Health-check costs: Up to 1% of the

average chosen sum assured over 3 prior
claim-free years

- Organ donor hospitalisation expenses

Add-on Covers - Ambulance Cover: Additional premium

payable Rs.100 for cover up to Rs.2,500

- Daily Cash Allowance:Additional

premium payable Rs.150 for cover up to
Rs.2,500 or Rs.300 for cover up to Rs.5,000

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United India Insurance Gold Policy:

Entry Age 36 yrs. to 60 yrs. Only renewals above 60

yrs.; 3 months for children, if at least one
parent is also covered
Sum Assured Rs.1 lakh to Rs.5 lakhs in increments of
Rs.50,000
Discounts 5% on total premium for at least one
additional member
Coverage - Inpatient hospitalisation expenses: Room
including nursing costs: Up to 1% of the
chosen sum assured ICU charges: Up to 2%
of the chosen sum assured Following costs:
Treating medical professionals,
consumables, supplies, OT and other
rooms, tests, equipment etc. up to chosen
sum assured
- Organ donor hospitalisation expenses: Up
to chosen sum assured

- Pre/post-hospitalisation expenses: Up to
30/60 days respectively

- Cataract, Hernia, Hysterectomy: Up to

25% of the chosen sum assured, Rs.1 lakh
(max.)

- Major surgeries: Up to 70% of the chosen

sum assured

- Specified day care procedures

- AYUSH treatment undertaken at a

government-approved centre

- Health-check costs: Up to 1% of the

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 average chosen sum assured over 3 prior
claim-free years

Add-on Covers
2 optional covers payouts made once
during a policy period:
- Ambulance Cover: Additional premium
payable Rs.100 for cover up to Rs.2,500

- Daily Cash Allowance: Additional

premium payable Rs.150 for cover up to
Rs.2,500 or Rs.300 for cover up to
Rs.5,000

United India Insurance Individual Mediclaim Policy:

Basis Individual
Sum Assured Chosen sum assured can be enhanced at
renewal
Premium Payable in advance
Coverage - Inpatient hospitalisation expenses: Room
including nursing costs: Up to 1% of the
chosen sum assured ICU charges: Up to 2%
of the chosen sum assured Following costs:
Treating medical professionals,
consumables, supplies, OT and other
rooms, tests, equipment etc. up to chosen
sum assured

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 - Organ donor hospitalisation expenses: Up
to chosen sum assured

- Pre/post-hospitalisation expenses: Up to
30/60 days respectively

- Cataract, Hernia, Hysterectomy: Up to

25% of the chosen sum assured

- Major surgeries: Up to 70% of the chosen

sum assured

- Specified day care procedures

- - Health-check costs: Up to 1% of the

average chosen sum assured over 3 prior
claim-free years

 United India Insurance Platinum Policy:

This policy targets a younger customer-segment, capping the entry age of proposers at 35
yrs. Key features of this plan are high coverage at affordable rates and the option to cover
one’s dependent children as well.

Entry Age 18 yrs. to 35 yrs.; only renewals beyond 35

yrs.; 3 months for children, if at least one
parent is also covered
Sum Assured Rs.1 lakh to Rs.10 lakhs in increments of
Rs.50,000 (chosen sum assured can be
enhanced at renewal)
Discounts 5% of total premium for at least one
additional member
Coverage - Inpatient hospitalisation expenses: Room

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 including nursing costs: Up to 1% of the
chosen sum assured ICU charges: Up to 2%
of the chosen sum assured Following costs:
Treating medical professionals,
consumables, supplies, OT and other
rooms, tests, equipment etc. up to chosen
sum assured
- Organ donor hospitalisation expenses: Up
to chosen sum assured

- Pre/post-hospitalisation expenses: Up to
30/60 days respectively

- Specified day care procedures

- Health-check costs: Up to 1% of the

average chosen sum assured over 3 prior
claim-free years

 United India Insurance Senior Citizen Plan:

This is a health insurance policy meant to extend insurance coverage to older members of
society viz. senior citizens. The needs of this group, considered a high-risk category, are
often ignored. However, this plan makes health care a viable option for people post-
retirement

Entry Age 61 yrs. to 80 yrs., only renewals above 80

yrs.; 3 months for children, if at least one
parent is also covered
Sum Assured Rs.1 lakh to Rs.3 lakhs in increments of
Rs.50,000 (chosen sum assured can be
enhanced at renewal)
Co-payment 20% for major illness claims as total

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 package
Discounts 5% of total premium for at least one
additional member
Coverage - Inpatient hospitalisation expenses: Room
including nursing costs: Up to 1% of the
chosen sum assured ICU charges: Up to 2%
of the chosen sum assured Following costs:
Treating medical professionals,
consumables, supplies
- Organ donor hospitalisation expenses: Up
to chosen sum assured

- Pre/post-hospitalisation expenses: Up to
30/60 days respectively up to 10% of the
chosen sum assured

- Cataract, Hernia, Hysterectomy: Up to

25% of the chosen sum assured

- Major surgeries: Up to 70% of the chosen

sum assured

- Specified day care procedures

- AYUSH treatment undertaken at a

government-approved centre

- Health-check costs: Up to 1% of the

average chosen sum assured over 3 prior
claim-free years

How to file a health insurance claim with United India Insurance:

2 types of health insurance claims can be filed with United India Insurance:

 Cashless Claim: Get admitted at a network hospital of the insurer to avail cashless
hospitalisation. Intimate the insurer prior to admission in the case of planned
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 hospitalisation or within 24 hours of admission in the case of emergency hospitalisation.
Show your health card at the hospital helpdesk. The hospital will submit a pre-
authorisation request form to the insurer or Third-Party Administrator. Upon approval, the
hospital will provide cashless treatment to the insured member. The medical bills will be
settled directly with the hospital by the insurer.
 Reimbursement Claim: A written intimation has to be sent to the insurer or TPA within
24 hours of hospitalisation. Collect all the original medical documents at the time of
discharge. Pay the bills upfront and later file a reimbursement claim with the insurer within
7 days from the date of discharge. The claim will be approved or rejected as per the policy
terms and conditions.

Incurred Claims Ratio of United India Insurance Health Insurance for the Year

2017-18

Net Earned Premium (in Net Claims Paid (in Crore) Incurred Claims Ratio (in
Crore) %)
Rs.4638.13 crore Rs.5146.18 crore 110.95%

COMMERCIAL POLICIES

1. MARINE INSURANCE

a) Marine Cargo Insurance

Cover- Any loss or damage to goods in transit by rail, sea, road, air or post.

Owners or bankers of goods in transit/shipment can be insure. And the following can be
insured:

 Export and import shipments

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  Goods in transit by rail, sea, road, air or post
 Goods carried by coastal vessels plying between the various ports within the country
 Cargo transported by small vessels or country craft over inland waters
 Goods moved from place to place by river transport

The policy covers loss/damage to the property insured due to:

 Fire or explosion; stranding, sinking etc.

 Earthquake, lightning
 Washing overboard
 Sea, lake, river water
 Total loss of package lost overboard or dropped in loading or unloading
 War and SRCC is specifically covered

Premium Rating

The normal basis of valuation for ocean/air consignment will be CIF + incidentals up
to a percentage which is agreed upon at the inception of the policy (normally this is 10 %)

b) Marine Hull Insurance

Cover- Any loss or damage to ships, tankers, bulk carriers, smaller vessels, fishing boats and
sailing vessels.

Owners or bankers of ships or vessels can be insured.

The various vessels that are covered under this policy are:

 Fishing Vessels
 Ocean Going Vessels
 Sailing Vessels
 Other Vessels

Cover the following risks:

 Fire or explosion; stranding, sinking etc.

 Overturning, derailment ( of land conveyance)

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  Collision
 General average sacrifice, salvage charges

1. INDUSTRIAL INSURANCE
a) Industrial All Risk Policy

Cover- All the risks other than petro chemical risks having a minimum sum insured of 100
crores are covered here.

Perils Covered-

Section I

 Fire & all covers

 Burglary and theft
 Machinery breakdown / Boiler explosion / Electronic Equipment Insurance

Section II

 Consequential Loss following Fire ( FLOP )

 Machinery Loss of Profit

Section II

 Insured's lack of sufficient capital

 Any restrictions imposed by any public authorities
 Loss of business due to cancellation of order / Lease
 Damage to boilers , machinery , economizers and data equipment.

b) Machinery Breakdown Policy

Cover- Various types of machinery, plant and equipment (mechanical/electrical) can be

insured. Any type of installed machinery with an option to insure/to cover only selected
equipments.

The following persons can be insured-

 The owner of the machinery.

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  In case of any financier’s interest eg. Bank, IDBI etc. machinery can be insured in the
joint names.

The sum insured should represent:

Present day replacement value which includes

- Basic cost + customs duty
- Incidental cost

2. MOTOR INSURANCE

Motor Package and Liability only Policies

Cover-Motor vehicle which includes private cars, Motorised Two wheelers and Commercial
vehicles excluding vehicles running on rails.

Owners of the vehicle, Financiers or Lessee, who have insurable interest in a motor vehicle
can be insure.

Insured's Declared Value

(a) In case of vehicle not exceeding 5 years of age, the IDV has to be arrived at by applying
the percentage of depreciation specified in the tariff on the showroom price of the particular
make and model of the vehicle.

(b) In case of vehicles exceeding 5 years of age and Obsolete models (manufacture of those
vehicles which have been stopped by the manufacturers), they have to be insured for the
prevailing market value of the same as agreed to between the insurer and the insured.

(a) Package Policy - Section I

Section I (Own Damage - OD) of Package Policy :

Section I of package policy covers loss or damage to the vehicle and / or accessories due to

 Accidental external means

 Fire, Self ignition, lightning
 Burglary, house breaking or theft
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  Terrorist activity
 Riot, Strike and Malicious Damage
 Earthquake
 Flood, cyclone and Inundation etc
 While in transit by rail, road, air, elevator, lift or inland waterways
 Landslide or workslide

4. MISCELLANEOUS INSURANCE

a) SOCIAL INSURANCE
i) Bhagyashree Child Welfare Policy

Cover- Cover is applicable to girl child in the age group of 0 to 18 years whose neither
parents' age should be greater than 60 years.

Cover is to provide relief to insured girl in the case of death of either/both of the parents
arising out of accident.
In the event of death of the parent(s), Rs.25,000/- will be deposited in the name of the child in
any of the nationalised banks and the benefits will be provided as under.

ii) Mother Teresa Women & Children Policy

All sections of women in the age group 10 to 75 years irrespective of their income,
occupation or vocation can be covered under the policy.

Section i : economic security scheme to women

Basic Cover-For Disablement of Insured women –

Permanent total disablement Rs.25,000/-

Loss of two limb/both eyes/one limb and one eye Rs.25,000/-

Loss of one limb/one eye Rs.12,500/-

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 b) RURAL INSURANCE
i) Agricultural Pumpset Insurance

All kinds of pumpsets like centrifugal, jet and submercible (both electrical and diesel) upto
30 HP of approved makes.

Owners of pumpset or financing banks and manufacturers of pumpset can insure under
Pumpset Package Policy.

Risk covered-

 Fire and lightning

 Theft/burglary
 Mechanical/Electrical breakdown
 RSMD and Terrorism
 Flood

ii) Poultry Insurance

 A Layer birds and hatchery birds in a poultry farm in the age group of 1 day old to 72
weeks and broilers in the age group of 1 day to 8 weeks.
 Ducks and Quails are also insured under the policy.

Own Poultry farmers / financing bank can insure the birds. All the birds in the
farm should be insured without selection.

Risk covered-

Policy provides indemnity against death of birds due to accidents including

fire, lightning, flood, cyclone, strike, riot, civil commotion, terrorism,
earthquake and disease contracted or occurred during the policy period

Policy pay-

80% of the value of the bird at the time of loss as per stage wise valuation
table attached to the policy subject to deduction of a specified policy excess.

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 c) TRAVAL INSURANCE
i) Baggage Policy

Baggage Insurance Policy covers all accompanied baggage during a journey like suitcases,
trunks etc., containing the baggage and additions during the journey.

 It covers accompanied baggage(not dealers', stock or travellers samples) during a

specified journey (including air travel).Suitcases, trunks etc., containing the baggage
and additions can also be insured provided they are declared specifically before the
commencement of the journey.

ii) Marga Bandhu Policy

This policy covers persons whilst on a tour or a pilgrimage.Groups of individuals who go on

study tour, educational trips or pilgrimage. Educational institutions, tour operators, travel
agents, clubs, associations etc., who arrange tours, picnics, yatras etc can avail this cover for
persons going on tour.
a) Death or disablement ( Permanent Total or Permanent Partial ) due to accident,
hospitalisation expenses
b) Additional expenses towards alternative travel arrangement due to detour or cancellation
caused by accident to carrying vehicle / train and c) loss / damage to baggage whilst on tour.
Basic cover:
 Death, PTD 100 % Capital Sum Insured ( CSI )
 Loss of one limb or one eye 50% of Capital Sum Insured

5. LIABILITY INSURANCE

i. Public Liability Insurance

The various terms like “Accident”, “Hazardous substances” as defined in the Act are given
below.

“Accident” means an accident involving a fortuitous, sudden or unintentional occurrence

while handling any hazardous substance resulting in continuous, intermittent or repeated

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exposure to death of, or injury to any person or damage to any property but does not include
an accident by reason only of war or radioactivity.

“Handling” in relation to any hazardous substance, means the manufacture, processing,

treatment, package, storage, transportation by vehicle, use, collection, destruction,
conversion, offering for sale, transfer or the like of such hazardous substance.

“Hazardous Substance” means any substance or preparation which is defined as hazardous

substance under the Environment (Protection) Act, 1986 and exceeding such quantity as may
be specified by notification by the Central Government.

Schedule of Compensation
1. Reimbursement of medical expenses incurred upto a maximum of Rs.12,500/- in each
case.
2. For a fatal accident the relief will be Rs.25,000/- per person in addition to
reimbursement of medical expenses, if any incurred on the victim upto a maximum of
Rs.12,500/-.
3. For permanent total or permanent partial disability or other injury or sickness, the
relief will be :
a. Reimbursement of medical expenses incurred, if any, upto a maximum of
Rs.12,500/- in each case and,
b. Cash relief on the basis of percentage of disablement as certified by an
authorized physician. The relief for total permanent disability will be
Rs.25,000/-.
4. For loss of wages due to temporary partial disability which reduce the earning
capacity of the victim, there will be a fixed monthly relief not exceeding Rs.1,000/-
per month upto a maximum of 3 months provided the victim has been hospitalized for
a period exceeding 3 days and above 16 years of age.
5. In respect of damage to private property, upto Rs.6,000/- per claim.

ii. Workmen Compensation Insurance

Liability of an employer for employment injury (including death) of any of his employees
who is a ‘workman’ as defined under Workmen Compensation Act.

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Any employer whether as a Principal or contractor engaging "workmen" as defined in WC
Act to cover his liability to them under statute and at common law. Employer can cover
Employees who do not qualify as "Workmen" under separate table
 Liability in respect of diseases mentioned in Part C / schedule III of WC Act, on
additional premium; which arise out of and in the course of employment

The Policy pay

 Where employment injury results in death, then we pay 40% of the monthly wages
of the deceased multiplied by the relevant factor or Rs. 20,000/- which ever is more.
 Permanent Total Disablement 50% of the monthly wages of the injured disabled
(PTD) workman multiplied by relevant factor or Rs. 24,000/- which ever is more.

INVESTMENTS

The initial plan, announced in the FY19 budget, had been to merge Oriental Insurance
Company, National Insurance Company and United India Insurance Company – all unlisted
entities – into one entity, keeping New India Assurance Company separate.

The combined market share of the three state-run insurers in terms of gross direct premium
was about 25%. New India Assurance had a market share of 16.8%

Increased emphasis on retail segment along with focus on containing underwriting losses will
be the key driver for profitable growth going ahead for the public sector general insurer
United India Insurance.

MAJOR PLAYERS IN INSURANCE SECTOR

1. Bajaj Allianz
2. Birla Sun Life
3. HDFC Life
4. ICICI Prudential
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 5. Exide Life
6. LIC
7. Kotak Life
8. SBI Life
9. Tata AIA
10. Reliance Life
11. Future Generali
12. IDBI Federal
13. Canara HSBC OBC

IRDA
IRDA - Insurance Regulatory Development and Authority is the statutory, independent and
apex body that governs and supervise the Insurance Industry in India.

It was constituted by the Insurance Regulatory and Development Authority Act, 1999 an
Act of Parliament passed by the Government of India. The agency's headquarters are
in Hyderabad, Telangana, where it moved from Delhi in 2001.

IRDAI imposes Rs 9 lakh fine on United India Insurance

 The IRDAI officials during the inspection found three violations, of which two
attracted fine.
 On examining the sample policy files of UIIC, it was noted that the insurer had not
recorded justification for the "extent of discount" given to different clients.
 The discount given is derived from market forces, as the insurer relies on quotes given
by other competitors.
 "Thus the insurer presented a false picture, as if it is offering a huge discount on the
base premium and charging premium separately for AOG (Act of God) perils," the
regulator said on one of the violations of UIIC.
 During the examination of the sample documents pertaining to the insurer, IRDAI
officials found there were numerous circumstances where the surveyor has been
appointed beyond 72 hours.

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CURRENT TRENDS IN INSURANCE SECTOR:
Investments and Recent Developments
The following are some of the major investments and developments in the Indian insurance
sector.

 As of November 2018, HDFC Ergo is in advanced talks to acquire Apollo Munich

Health Insurance at a valuation of around Rs 2,600 crore (US$ 370.05 million).
 In October 2018, Indian e-commerce major Flipkart entered the insurance space in
partnership with Bajaj Allianz to offer mobile insurance.
 In August 2018, a consortium of WestBridge Capital, billionaire investor Mr Rakesh
Jhunjunwala announced that it would acquire India’s largest health insurer Star Health
and Allied Insurance in a deal estimated at around US$ 1 billion.
 India's leading bourse Bombay Stock Exchange (BSE) will set up a joint venture with
Ebix Inc to build a robust insurance distribution network in the country through a new
distribution exchange platform.

Government Initiatives
The Government of India has taken a number of initiatives to boost the insurance industry.
Some of them are as follows:

 In September 2018, National Health Protection Scheme was launched under

Ayushman Bharat to provide coverage of up to Rs 500,000 (US$ 7,723) to more than
100 million vulnerable families. The scheme is expected to increase penetration of
health insurance in India from 34 per cent to 50 per cent.
 Over 47.9 million famers were benefitted under Pradhan Mantri Fasal Bima Yojana
(PMFBY) in 2017-18.
 The Insurance Regulatory and Development Authority of India (IRDAI) plans to issue
redesigned initial public offering (IPO) guidelines for insurance companies in India,
which are to looking to divest equity through the IPO route.
 IRDAI has allowed insurers to invest up to 10 per cent in additional tier 1 (AT1)
bonds that are issued by banks to augment their tier 1 capital, in order to expand the
pool of eligible investors for the banks.

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 CONCLUSION

The secondary data from various sources is used for this study. As a leading private
sector insurance company they have their own foot prints in the industry. The company
providing variety of products to the peoples which start from insurance cover for pedal
cycle to satellites. Their social welfare policies are really a protecting hand to backward and
typical middleclass peoples. Peoples in India receiving a lot of advantage from those
policies which offering tie-ups with Govt of India. The company is much interested national
development that we can understand by analysing their social and rural insurance policies.

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