General Insurance Business in India was nationalized in 1972.
On 2 February 2018, the Government of India announced merger of United India Insurance Company with Oriental Insurance and National Insurance Company Limited.United India Insurance Company Limited was incorporated as a Company on 18th February 1938.
The Gross Domestic Premium for the Financial Year 2019–20 is Rs. United India has also been the pioneer in taking Insurance to the rural masses with large scale implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana (covering 4.5 million women in the state of Madhya Pradesh), Tsunami Jan Bima Yojana (in 4 states covering 459,000 of families), National Livestock Insurance and many such schemes. United India has been in the forefront of designing and implementing complex covers to large customers, as in the cases of ONGC Ltd, GMR - Hyderabad International Airport Ltd., Mumbai International Airport Ltd., Tirumala-Tirupati Devasthanam, Kochi Metro Rail Corporation etc. The Company has a variety of insurance products to provide insurance cover from bullock carts to satellites. Īfter nationalization, United India has 14,322 number of workforce spread across 2,248 offices providing insurance cover to more than 10 million policy holders. Twelve Indian insurance companies, four co-operative insurance societies, five foreign insurers with Indian operations and the general insurance operations of the southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited to form the company. But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy, with effect from March 21, 2003. Previously it was a subsidiary of the General Insurance Corporation of India (GIC). It was incorporated on 18 February 1938, and nationalised in 1972.
It is under the ownership of Ministry of Finance, Government of India. United India Insurance Company is a leading Indian nationalised general insurance company.
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