New Delhi, 09 May 2024: The Central Government in exercise of its powers conferred under article 96(1) of the Article of Association of the United India Insurance Company Limited (UIICL) for appointment of Shri Bhupesh Sushil Rahul currently General Manager of Agriculture Insurance Company of India Limited (AICIL) as Chairman-cum-Managing Director (CMD), United India Insurance Company Limited, with effect from the date assumption of charge of office, upto the date of attainment of superannuation i.e. 30 April 2027 or until further orders.
Shri B S Rahul has taken over charge as CMD, United India Insurance Company Limited on 01 May 2024 which was vacant from Feb end after retirement of S Tripathy.
“During my tenure as CMD, it would be my duty to in strengthen my new family/organisation and also playing a lead role in extending affordable and sustainable insurance availability for large number of insureds, while steadily extending protection to risks of individual and corporate business enterprises,” said Rahul after assuming his new charge.
Industry analysts point out that UII, which has been facing a spate of financial challenges in terms of capital, solvency, net worth, and large underwriting losses in the last couple of years, is expected to have a much better performance in FY 24. With the government support for capital and right kind of leadership, the company with a premium of Rs 20,000 crore in FY 24,may see a turn around in the near future.
