From Our Special Correspondent
Daijiworld Media Network - Bangalore

Bangalore, Jul 22: United India Insurance Co Ltd (UIICL) has drawn up an ambitious expansion plan to open 530 new offices this year across the country.

The UIICL already has 110 offices in different parts of Karnataka.

In 2012-13, the company had collected a total premium of Rs 9266 Crore and has set a target of reaching Rs 11, 000 Crore during 2013-14, according to an official press release.

UIICL had recorded a net profit of Rs 526 Crore in 2012-13.

A delegation of UIICL led by its Chairman-cum-Managing Director Milind Kharat, which called on Chief Minister

Siddaramaiah, held detailed discussions about implementation of various insurance schemes in the state
Acknowledging the efforts of UIICL, Siddaramaiah asked UIICL to make special efforts bring the underprivileged weaker sections of the Society under the realm of insurance.

Kharat assured the Chief Minister that the company would actively involve itself in health insurance schemes for the below poverty live (BPL) families.

The CMD said UIICL, the second largest general insurance company in India, was a pioneer in implementing the Rashtriya Swasthya Bhima Yojana in seven major states, besides being a leader in implementing rural insurance schemes.

He said that the company settled over 10 lakh claims annually and had the highest solvency ratio of 2.52. It has been rated IAAA by ICRA for the past 11 years.