United India appoints chairman; outlines IPO timeline
Girija Kumar has been approved as chairman and managing director at state owned United India Insurance.
Kumar has been a director and general manager at the firm since July 2015.
In an interview with the Times of India this week Kumar said the company is planning for an IPO after government-owned insurer New India and reinsurer GIC go public. He said United is tentatively looking at the early half of the 2018-19 fiscal year but the IPO could be earlier if market conditions are favourable and financial targets are met.
Earlier this year India’s government outlined budget plans to sell up to 25% stakes in five state-owned insurers.
The insurer has already exceeded its gross written premium target of 14,444 crore (£1.74bn) for the current financial year ending 30 June 2017; as of 31 March it had 13.7% market share.
The company has over 18000 employees across 1340 offices providing insurance to more than 10 million policyholders. It provides a diverse range of insurance including complex cover to large customers, healthcare for rural communities and livestock insurance.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on People
Penny Black’s Social Diary: Zurich’s sci-fi future; ITC’s macarons
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector's social media posts.
Q&A: Greg Ferguson, Bridge Specialty
Greg Ferguson, Bridge Specialty International’s new CEO of international distribution, reveals how he intends to accelerate the growth of the business outside the US.
60 Seconds With... M2 Recovery’s Matt Green
Matt Green, non-executive director at crypto recovery firm M2 Recovery, talks lost digital money, landmark cases, and sending his first paycheck to a Kenyan school.
Diary of an Insurer: Axa’s Brendon Moodley
From 5am gym sessions to steering major technology initiatives, Brendon Moodley, head of data platforms and product delivery at Axa UK, blends discipline, leadership and family time that includes watching Disney films that sometimes leave him holding back tears.
Apologies to Donaldson: Passing on the crown for shortest GI CEO stint
Content Director’s View: With a host of recent – mostly surprising – announcements relating to short leadership/CEO stints, Jonathan Swift revisits his column from last February where he awarded the crown for briefest tenure at the top to Ardonagh’s Ian Donaldson.
Penny Black’s Social Diary: Aviva’s vest; Baroness Lloyd’s malapropism
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector’s social media posts.
Enter Best Insurance Employer 2026 today
If you work for one of the greatest employers in the insurance industry and want to shout about it, make sure you complete Insurance Post’s Best Insurance Employer survey today.
Lemonade’s UK lead exits
Sarvesh Ramachandran, Lemonade’s UK country head, has left the business after more than four years.