The joint venture has been capitalized with shareholders funds of over 230 cr. including share premium.
The Company received the Licence and Certificate of Registration from Insurance Regulatory and Development Authority in November 2007.
Three of the Indian partners are leading banks with a combined asset base of Rs. 3,14,071 crores and over 4000 branches and distribution centers. Plus the 4th largest FMCG company in India with over 1.5 million retail outlets. The JV partners will extend their vast distribution reach and customer base for soliciting our bouquet of non-life insurance business. In addition, the company’s distribution network will also consist of brokers, agents and focused below the line direct marketing promotions.
Sompo Japan Insurance Inc. Headquartered in Tokyo, is a Fortune 500 Company with a capital of 70 billion yen, is present in 27 countries – has over 15,000 employees and 69,028 agents and its total premium income for 2006 – 2007 was in excess of (equivalent to) Rs.50,000 cr. twice that of the Indian General insurance industry.
The company is present across almost all product lines, classified into five major classes: Property, Marine, General Accident, Workmen Compensation and Motor.
Corporate Office: Unit 401, 4th Floor, Sangam Complex, 127 Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra
Call: 1-800-22-4030, 1-800-200-4030, 022-27639800, 022-39133700
Website: Universal Sompo