Chennai, Aug 31: India Insurance Company, the Chennai-based general insurance giant, is planning to cover 25 lakh families living below poverty line under the 'universal health insurance scheme', launched by Prime Minister A B Vajpayee in July this year. Instead of taking 100 families as a single unit as stipulated under the central scheme, the UI had decided to enrol single family as a unit for the health insurance scheme, V Jagannathan, Chairman and Managing Director of UI told reporters here today, while announcing the financial results for the year 2002-03.
The company had completed a business of Rs.2968 crore in 2002-03, with an accretion of Rs.313 crore over the previous year. It registered a profit of Rs.214.15 crore before tax as against Rs.156.69 crore in the previous year.
"We hope to make a profit of Rs.300 crore during 2003-04", Jagannathan said.
In order to tap the vast potential in the personal insurance line of business and to serve rural sector better, UI had opened 143 'one-man' offices across the country. Sixty more such offices would be opened in the current financial year, Jagannathan said.
Bureau Report