United India Insurance Company Limited

Chennai, India

United India Insurance Company Limited is a public sector general insurance company in India offering a comprehensive range of general insurance products including motor, health, travel, and accident coverage. The company serves both individual and corporate clients and is part of India’s government-owned insurance sector.

CCI Score

-39.77

0.01% April 18

Latest Event

Privatization Consideration Sparks Structural Concerns at United India Insurance

The government is weighing the option to privatize United India Insurance, a troubled public sector general insurer with chronic solvency issues. This potential move, aimed at recapitalization and structural reform, raises concerns about shifting from public accountability to market-driven practices that could compromise the social responsibility traditionally upheld by state-owned entities.

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TOADIE

United India Insurance Company Limited is currently rated as a Toadie.

-30 to -44 CCI Score

Companies scoring in this range actively seek to please authoritarian regimes. They offer proactive support and assistance in exchange for preferential treatment, compromising ethical standards for business gains and political favor.

Latest Events

JAN

23

2025

Privatization Consideration Sparks Structural Concerns at United India Insurance
-19.54

The government is weighing the option to privatize United India Insurance, a troubled public sector general insurer with chronic solvency issues. This potential move, aimed at recapitalization and structural reform, raises concerns about shifting from public accountability to market-driven practices that could compromise the social responsibility traditionally upheld by state-owned entities.
-20

Economic and Structural Influence

March 25

The article details discussions of privatizing United India Insurance amid poor financial performance (reflected in negative solvency ratios) and ongoing structural challenges. Privatization may lead to reduced public oversight and an increased emphasis on profit-driven policies, potentially aligning the company more closely with neoliberal market practices that undermine collective accountability. From an anti-fascist perspective, this structural shift can be seen as complicit in trends that favor concentrated corporate power over democratic, publicly accountable institutions.

Privatization on the table: Govt may pick one troubled PSU general insurer for sale
MAR

29

2018

CBI Files Case Over Alleged Investment Irregularities at United India Insurance
-60.00

The Central Bureau of Investigation (CBI) has initiated legal action against officials of United India Insurance Company Limited for allegedly bypassing internal investment controls, resulting in a loss exceeding Rs 30 crores. This action highlights significant ethical and governance failures within the organization.