United India Insurance posts net profit of Rs 1003 crores for 2017-18

The Board of Directors of United India Insurance Company Limited has approved the company's accounts for the year 2017-2018. The company has achieved a solvency ratio of 1.54 as against 1.15. The solvency drives were prudent underwriting practices, re-pricing strategies and quota and subordinated debt. 

The net worth of the company stood at Rs 4820 Crores against Rs 2817 Crores last year. 

The credit rating of the company was AAA Stable awarded by CRISIL high claims paying credentials and financial strength rating of B++ from AM Best, International Ratings agency. 

The Central government Insurance schemes in Tamil Nadu, West Bengal, Goa, and Chattisgarh.