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United Insurance in financial strain, situation is precarious: Chairman

For the entire year of 2017-18 the company had made a profit of Rs 10.03 bn. But this figure was surprising since UII had reported a huge loss in the year before, of Rs 19.14 bn

money, tax, financial planning, savings
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Subhomoy Bhattacharjee New Delhi
In the past few years, the profits and losses of India’s second-largest general insurance company, United India Insurance (UII), are undergoing a massive swing without any striking reason.
 
Girish Radhakrishnan, chairman and managing director of the state-owned company, has told his employees in a year-ender mail the financial situation is precarious and alarming.
 
For the September quarter, the company posted a loss of Rs 14.29 billion. To put the number in perspective, for the entire year of 2017-18 the company had made a profit of Rs 10.03 billion. But this figure was surprising since UII had reported a

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First Published: Dec 29 2018 | 10:55 PM IST

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