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Universal Sompo
Universal Sompo General Insurance Co Ltd

About Universal Sompo

"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 Nipponkoa Insurance Inc. is a Japanese insurance company. It is the largest property and casualty insurance company in Japan and holding a stake of 26% in USGI. The “Sompo” in the company's name means “property insurance” in Japanese, though Sompo Japan Nipponkoa offers a range of financial services including life insurance, securities, asset management and venture capital businesses."

Drawing upon the financial strengths and distribution reach of Indian partners and backed by insurance expertise of Sompo Japan, Universal Sompo intends to be a diversified player, participating in healthy competition to augment insurance capacity in the country through prudent underwriting, offering innovative and customized Risk Solutions to range of customer segments including Rural and Social sector, utilizing varied Distribution channels.Rural and Social sector, utilizing varied Distribution channels.

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