The United India Insurance Company (UIICL) has reported a significant turnaround in its financial performance, achieving a net profit of ₹154 crore for the 2024-25 fiscal year. This marks a substantial improvement from the previous year’s loss of ₹804 crore. The company’s gross direct premium income stood at ₹20,072 crore, with a combined ratio of 121.67%, representing a 4% improvement. Additionally, UIICL’s customer base has exceeded the 2 crore mark, solidifying its position as the country’s 4th largest general insurer.
According to Bhupesh Sushil Rahul, CMD of UIICL, the company’s focus on technological innovation, customer satisfaction, and risk management has enabled it to adapt to the evolving industry dynamics and emerge stronger. The insurer has implemented prudent underwriting and strategic loss control measures, which have contributed to its return to profitability.
In line with the Insurance Regulatory and Development Authority of India’s (IRDAI) vision of “Insurance for All by 2047,” UIICL has introduced a range of innovative insurance solutions designed to meet the changing needs of customers. These products include a comprehensive personal accident policy, parametric insurance, usage-based motor insurance, cyber insurance, and a home protection plan. By prioritizing customer-centric strategies, seamless claims processing, and enhanced service standards, UIICL aims to deliver financial security, strengthen customer trust, and redefine industry leadership.
With a presence across India, UIICL offers a diverse portfolio of insurance solutions, including health, motor, property, and marine coverage. The company’s commitment to innovation, customer satisfaction, and risk management has enabled it to reclaim its position as a profitable force in the industry. As the insurance landscape continues to evolve, UIICL is well-positioned to meet the changing needs of its customers and maintain its momentum as a leading general insurer in the country.