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UIIC's overall operational performance resulted in an operational loss of ₹ 415.10 crore (US$48 million) in 2022-23 as against ₹ 1,677.81 crore (US$190 million) in 2021-22, thus recording an improvement. The net incurred claims ratio slightly decreased to 91.32% in 2022-23 from 100.47% in 2021-22.
Following is the list of insurance companies in India which have been approved by the Insurance Regulatory and Development Authority of India (IRDAI) which is a statutory body regulating and promoting the insurance and reinsurance industries in India.There are three types of Insurance Companies in India which are as given below:
The business of general insurance was nationalised through The General Insurance (Emergency) Provisions Ordinance promulgated on 13 May 1971 and thereby the business being carried on by 107 entities was consolidated and restructured into four companies namely The New India Assurance Company Limited, Bombay, United India Fire & General Insurance Company Limited, Madras, Oriental Fire & General ...
Employee Strength as on 31 March 2019 Category Of Employees Male Female Total Class I: 5,426 2,220 7,646 Class II: 802 34 836 Class III: 5,576 1,869
HealthMarkets was founded in 1983 by Ronald Jensen under United Insurance Companies, Inc. (UICI) [1] Through its focus on the then-untapped market of self-employed workers, the company was able to grow earnings by more than double between 1984 and 1985.
The IRDAI and its linked organisations. Section 4 of the IRDAI Act 1999 specifies the authority's composition. It is a ten-member body consisting of a chairman, five full-time and four part-time members appointed by the government of India. [9]
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By 2020 Indian Insurance is a US$280 billion industry. However, only 500 million people (36.23% of the total population of 1 billion) are covered under Mediclaim. [6] ...