Indian general insurer keen on entering Sri Lanka

Wednesday, 29 October 2014 00:00 - - {{hitsCtrl.values.hits}}

CHENNAI: Public sector general insurer United India as part of its plans to have presence overseas, was keen on setting up its first office in Sri Lanka, a top official said. “We are looking at Sri Lanka. We have not yet finalised. It is still in the early stages,” United India Insurance Company Ltd. Chairman and Managing Director Milind Kharat told reporters here. The company had earlier set up office in Hong Kong but was shut in 2002. Elaborating, he said: “We are keen in starting one office in Sri Lanka. We have to get the regulatory approvals, clear the formalities.” United India Insurance, Director and General Manager, M. Vasantha Krishna said the company was serious about setting up the footprint in Colombo. “We are serious about it. Hopefully, we are looking at setting up an office this year...,” he told PTI later. Asked whether the company would set up the overseas office through a joint venture partner, Kharat clarified that the company would set up its office on its own. “We will be going there alone.”

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