Universal Sompo General Insurance Company Limited

It’s a Public - Private Partnership, first of its kind in General Insurance Industry in India. The joint venture has been promoted with the shareholders’ funds worth over Rs. 230 crores. It’s a joint venture with Sompo Japan Insurance, Karnataka Bank, Indian Overseas Bank, Allahabad Bank, and Dabur Investments. The Company received its Certificate of Registration from IRDA in November 2007. Karnataka Bank, Indian Overseas Bank, and Allahabad Bank are three Indian Bank partners having a total asset base of Rs. 3,14,071 crores with wide distribution channel of 4000+ branches. Dabur Investments is a major Indian FMCG company having more than 1.5 million retail outlets. Sompo Japan is a major Japan-based insurance company. It basically deals in property and casualty insurance and holds a 26% stake in Universal Sompo General Insurance Company Limited. The latest Incurred Claims Ratio (ICR) of Universal Sompo General Insurance for FY 2018-19 is 70%.

Backed by the wide distribution reach of Indian partners and insurance expertise of Sompo Japan, Universal Sompo General Insurance aims to become a diversified player in General Insurance Industry. The company tends to offer the customized coverage solutions to customer segments, including Rural and Social sector. Within the span of 8+ years of its existence, Universal Sompo offers insurance products such as Personal Accident & Disability, Property for individuals, Health & Critical Illness, Motor, Home, Offices, and other non-life packages for corporate. Universal Sompo General Insurance Company aims to deliver peace of mind with innovative general insurance products. Universal Sompo has bagged 94.3 My FM stars of the industry award. This award defines the excellence in General Insurance.