Universal Sompo

Universal Sompo is a Joint venture of Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments, and Sompo Japan Insurance Inc. The company is headquartered in Mumbai and has 117 offices. The company offers 205 IRDAI-approved products, and 1494 Add-on covers, ranging from Motor, Accident & Health, Home for Individuals, Shopkeepers Package, Crop and other non-life packages for SMEs, Fire, Marine, Engineering, Employee’s Benefit etc. The company maintains its Claims settlement ratio at 98.27%. The company’s paid-up capital is Rs 368.18 Cr; Shareholders’ Net worth is over Rs. 1,129 Cr; Gross Written Premium Rs. 3,487 Cr; Assets Under Management (AUM) Rs. 3,741 Cr; Solvency at 1.92 times. It has a strong distribution network of Agents, Point of salespersons, Bank Branches, Automobile Dealers, Brokers, Common Service Centres, and Digital Platforms.