Oriental Insurance to open fourth overseas office in Qatar

PUDUCHERRY: Expanding its operations, the Oriental Insurance Company would soon open its fourth overseas office in Qatar, a top official said today.

"Our foreign operations are now carried out in Dubai (UAE), Nepal and Kuwait. Very soon an office would go on stream in Qatar," company Chairman-cum-Managing Director A K Saxena told reporters here.

He said the company, a non-life insurance public sector undertaking, opened 598 extension counters and micro offices in untapped areas during 2013-14 as part of its expansion.

Highlighting the business scenario, he said the company had issued 11.7 million policies during 2013-14 and the claim settlement ration for the year stood at 92 per cent.

Saxena, who was here to attend a meeting of Development of Officers, said the company was strengthening its presence in Tamil Nadu by opening three regional offices in Coimbatore and Chennai. A corporate regional office would be opened shortly in Madurai.