Universal Sompo General Insurance Company has entered into a tie with Dena Bank to offer loan secure insurance policy to the bank’s retail and SME (small and medium enterprise) customers. Universal Sompo is a joint venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments and Sompo Japan Insurance Inc.
“Dena Bank Chairman and Managing Director Ashwani Kumar said all retail customers, who had taken, education, auto, home and personal loans from the bank would be benefited by this insurance scheme. Universal Sompo General Insurance Executive Chairman O. N. Singh said the company had generated profit for the first time in 2013-14 since its inception.
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