Page 131 - DMGT512_FINANCIAL_INSTITUTIONS_AND_SERVICES

Financial Institutions and Services

Notes India and AIG's global presence as the world's leading international insurance and financial
services organization. The Tata Group holds 74 per cent stake in the insurance venture
with AIG holding the balance 26 percent. Tata AIG General Insurance Company, which
started its operations in India on January 22, 2001, offers complete range of general insurance
for motor, home, accident & health, travel, energy, marine, property and casualty, liability
as well as several specialized financial line.
10. United India Insurance Co. Ltd.: UI is a leading General Insurance Company with more
than three decades of experience in Non-life Insurance business. Formed by the merger of
22 companies consequent to nationalisation of General Insurance, it head quarters at
Chennai. Its corporate mission is to provide Insurance protection to all, to ensure customer
satisfaction, to function on sound business principles and to help minimise national waste
and to help develop the Indian economy.
11. Cholamandalam MS General Insurance: It is a joint venture between The Murugappa
Group and Mitsui Sumitomo Insurance Group.
The Murugappa Group, headquartered in Chennai, India. It has 29 companies under its
umbrella, of which eight are listed and actively traded on the National Stock Exchange
and the Bombay Stock Exchange. With 40 units spread across 12 states in India, the
Murugappa Group is one of India's oldest business houses. It has a presence in The UK, The
USA, Australia, Canada, South Africa, UAE, Thailand, and China.
Mitsui Sumitomo Insurance Group is one of the largest insurance groups in the world.
Today the group operates in non-life insurance, life insurance, financial services and risk
management services.
12. HDFC ERGO General Insurance Co. Ltd.: HDFC ERGO General Insurance Company Limited
is a 74:26 joint venture between HDFC Limited, India's premier Housing Finance Institution
& ERGO International AG, the primary insurance entity of Munich Re Group.

HDFC ERGO focuses on providing the "Right Insurance Solution" for all. They offer a
complete range of general insurance products ranging from Motor, Health, Travel, Home
and Personal Accident in the retail space and customized products like Property, Marine
and Liability Insurance in the corporate space.
HDFC ERGO has been expanding its presence across the country and is present across
46 cities with 52 branch offices. The company has a right balance of distribution channel
comprising of Dealerships, Brokers, Retail and Corporate Agents, Bancassurance and Direct
Sales Team.
13. Star Health and Allied Insurance Company Limited: It works with a mission of ultimate
Customer Satisfaction and provide healthcare options.
14. Apollo DKV Insurance Company Limited: Committed to bring world class health care
within the reach of every individual, Apollo Hospitals Group has joined hands with DKV,
a world leader in the field of health insurance. The joint venture is poised to make good
the conviction of both the partners that Indian health insurance market is on the brink of
explosive growth.
Apart from the above discussed organisations, there are several other players like Export
Credit Guarantee Corporation of India Ltd, Agriculture Insurance Co. of India Ltd., Future
Generali India Insurance Company Limited, Universal Sompo General Insurance Co. Ltd., Shriram
General Insurance Company Limited, Bharti AXA General Insurance Company Limited and
Raheja QBE General Insurance Company Limited that deal in various general insurance products
and services.

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