United India Insurance pays Rs 106 crore dividend to government

CHENNAI: Public sector United India Insurance has paid a dividend of Rs 106 crore for the year 2013-14 to the government.

United India Insurance Chairman and Managing Director Milind Kharat presented a cheque of Rs 106 crore to Finance Minister Arun Jaitley in New Delhi yesterday, a company statement said.

The dividend of Rs 106 crore declared amounts to 70.66 per cent of paid-up capital.

The Profit After Tax in 2013-14 stood at Rs 527.60 crore as against Rs 527.33 in 2012-13, the company said.

The premium income of the company for 2013-14 stands at Rs 9,709 crore with an accretion of Rs 443 crore registered over the same period of previous year, the statement added.