“Focus is on to tapering down the loss ratios especially in Motor, Health and increase the profit element to further strengthen the balance sheet and improve the solvency. The long-term vision is to generate surplus in core operations and maintain a healthy solvency ratio” BS Rahul, CMD, United India Insurance
Chennai: After staging a turn around against all odds, with a net profit of Rs154 crore in FY 25, state owned United India Insurance(UII),after years of losses, seems to have got its mojo back and is implementing a clear cut short-term strategy as well as a long term vision to push business growth and profitability in coming days, according to BS Rahul, CMD of the fourth largest general insurer in the country.
The insurer, which is seeking capital from the government to boost its solvency and net worth, had recorded a loss of Rs 804 crores in Fy 24.
“We have improved all our key financial parameters-gross premium, combined ratio, investment income and underwriting losses- in FY 25. Now, we want to push our business growth and expand our market share further. We have a clear short-term strategy and a long-term vision to achieve these targets,’’ outlined Rahul.
Focus is on to tapering down the loss ratios especially in Motor and increase the profit element to further strengthen the balance sheet and improve the solvency. The long-term vision is to generate surplus in core operations and maintain a healthy solvency ratio, stated UII chief.
The insurer has mobilised a total gross premium of Rs 20,072 crore in FY 25 over Rs 19,853 crore in the year- ago period.
UII’s combined ratio has improved from126 per cent FY 24 to 122 per cent while its underwriting losses have declined from Rs 4,520 crores in FY 24 to Rs 3,911 crore in FY 25.
The losses have been brought down by Rs 609 crores through strategic underwriting, efficient claims servicing and strengthening the monitoring mechanisms especially in Health portfolio, where the claims ratio has been brought down by 9.55 percentage points, explained Rahul.
The company has recorded a higher investment income of Rs 3,791 crores in FY 25 as compared to Rs 3,716 crores in the previous year.
“Despite the markets being down in March 25, we could surpass the previous year’s investment income,’’ added Rahul.
Manpower
The insurer is investing a lot in not only in manpower management but also in talent and leadership management.
“We are recruiting both generalists and specialists in the officer cadre. In the previous year, we have recruited specialists like charted accountants (CAs), legal officers and medical doctors from all branches such as Allopathic, Ayurvedic and Homeopathic so as to make the claims experience of our health policyholders smooth irrespective of which mode of treatment they avail,’’ said Rahul.
In the current year, UII plans to upskill and reskill its employees both in-house and from external training facilities at top management schools in the country, revealed Rahul.
The insurer was awarded the “Precision Insights” award for excellence in harnessing data analytics to drive precise and impactful decisions by The Raksha Awards in 2024-25.
Its good from other some emplyee bad behaviour but direct coming officer is good.
Hope that all the claim outstanding provisions made correctly no large claim is closed which is admissible
I am very happy to know that UII has made a profit in 2024-2025 with increased premium income and better claims ratio.I wish the company grow further in the coming years.I wish to state that I am a retired employee of this great company.
I am very happy to know that United India Insurance Co.Ltd has made profit in 2024-25 with increased premium income and better claim ratio.
I wish to the company grow
in coming years . I am retired
Employee of this great Public Sector Company.
Car insurance very slow claim process,poor surveyor behaviour and customer contact,care & comfort is pathetic,
Incredible Performance. Feel Extremely Happy & take pride in this result.
Congratulations to each one who has been a contributor to this marvelous feat.
God Bless The Organization & It’s Family .
Anticipating many more laurels in coming future.
👏, 👍 💐 🙏
With Regards
Prema Mukilan
Congratulations to each contributor. Anticipating the good results in the coming years too.
Great work. Kudos to the Team United and its worthy leadership!!
I am an ex United Indian and served this esteemed organisation from 1986 to 2002.
During my days, we were given regular trainings on specialised insurance products like Loss of profit policies, Project insurance policies, Industrial all risk insurance policy and so on.
But now a days I have observed that trainings have taken a back seat which results into improper decisions taken in underwriting and claims settlement.
Suggest, company must is strength her this area as well to improve its financial condition further.
Incredible Performance.
Feel Extremely Happy & take pride in this result as a
ex. Employee and part of the organisation as adviser/ Consultant
Congratulations to each one who has been a contributor to this marvelous feat.
God Bless The Organization & It’s Family .
A great reward for hundreds of our staff’s perspiration! Always patience pays!!
Ins co results are matter of accounting jugglery ALWAYS.
PSU’S EMPLOY EMPLOYEES FROM Underprivileged SECTIONS PROVIDING THEM EMPLOYMENT. THE ATTITUDE OF THE GOVT IN POWER TOWARDS PSU IS APATHETIC AND ITS PREFERENCE FOR private CAPITAL IS EVIDENT. HOPE THE THINGS CONTINUE THE WAY THEY OUGHT TO BE IRRESPECTIVE OF THE GOVT IN POWER
Claim settlement for health and motor insurance is still slow.
New staff appointment on temporary/ contract basis should be done.
Cashless hospitals to be increased by TPA and vehicle survey for less than ₹ 15000 should be entrusted to star advisors. Branch claim settlement should be enhanced to ₹1 lakh.
It gave me immense pleasure to hear that our UIIC shown a profit after a long gap. Kudos to all…& Hope same momentum to be continued ahead.
My best wishes to UIIC for future plans as I have retired from UIIC this year in March 25.
I am highly proud to know our UIIC made Profit this year and extend all wishes to the Concerned and extend thanks and kudos for strengthening a Strong Solvency Ratio in the Industry and strengthening the Marketing Forces Further and expedite the Claim Settlement Procedure in all fields.
It is the result of well planned and meticulously executed by our top management under the leadership of our beloved CMD.
The cohesiveness and the synergy created by the top management has yield this fantastic result for the FY 2024-25.
Hearty congratulations to all United Indians 👏