United India Insurance (UII) has posted about 9 per cent rise in its net profit at Rs.228.76 crore for the quarter ended June 30, 2014, against Rs.210.76 crore in the year-ago period, on the back of good rise in premium income.
Its premium income grew 11 per cent to Rs.2,729 crore. Investment income stood at Rs.531 crore against Rs.447 crore.
Through efficient claims management, UII was able to reduce the claims ratio to 81.95 per cent from 83.27 per cent, said a company statement.
The market value of the company’s total investment portfolio at the end of June 30, 2014, was Rs.24,155 crore, up 12 per cent.
UII plans to recruit 300 Officers and 630 Assistants during the current year.
