699:
40:
1600:
1085:
268:
245:
222:
199:
400:
under statutory law, the company became a subsidiary of the Life
Insurance Corporation of India from 1956 to 1973 (until the general insurance business was nationalized in the country). Following the nationalisation of the general insurance industry by the General Insurance Business (Nationalisation)
375:
It has over 1,343 direct customer interaction and policy issuance branches, over 49,305 agents (99.93% of whom are individuals), and 447 insurance brokers besides 11,005 Point of
Salespersons (direct) and 1,731 Motor Insurance Service Providers across India, Bancassurance partnerships with 19 banks
408:
With the
General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force on March 21, 2003, GIC ceased to be a holding company of its subsidiaries. The ownership of the four erstwhile subsidiary companies and the General Insurance Corporation of India was vested with
376:
enable policy sales and services through bank branches, besides four web aggregators and an online portal for policy purchases, renewals, and claim tracking, helping extend the
Company's reach beyond physical offices.
1003:
977:
951:
839:
746:
1639:
1624:
1634:
1580:
721:"Public disclosure by insurer as per IRDAI's Circular IRDAI/F&A/CIR/MISC/256/09/2023 dated 30/09/2021 (FORM NL-41 OFFICES INFORMATION AS AT 31st March 2023)"
1629:
1073:
802:(US$ 11 million) with a net Incurred Claims Ratio of 31.72 % for the last year). Our foreign operations had finally resulted in a net surplus of
720:
388:
on 12 September 1947. The company was a wholly owned subsidiary of The
Oriental Government Security Life Assurance Company Ltd and was formed to carry out
1570:
1528:
1465:
1442:
1121:
634:
402:
1097:
1029:
419:(US$ 1,200) in 1950. The company's goal was “service to clients”, and achievement was helped by the strong traditions built up over time.
1523:
1460:
1367:
1321:
1168:
331:
50:
1341:
1234:
1224:
1158:
214:
1051:
458:
The following Board
Committees have been constituted following the provisions of the IRDA Corporate Governance Regulations, 2016:
1518:
1404:
1193:
1183:
1066:
856:
The financial results for 2022-23 reflect that the company registered growth of 14.07 % on a gross basis with a premium of
1485:
1281:
1173:
1153:
1143:
1106:
1533:
1239:
1585:
1452:
1420:
1575:
1271:
1261:
572:(US$ 380 million) during the previous year, after taking into account both operating profit and investment income.
401:
Act, 1972 (GIBNA), the
Government of India transferred all the shares it held of the general insurance companies to the
1603:
1059:
339:
925:
1554:
1513:
1286:
1188:
397:
791:(US$ 35 million) last year. The net Incurred Claims during this year in respect of foreign operations were
1203:
527:(US$ 50 million). The net incurred claims ratio increased to 112.14% in 2022-23 from 110.80% in 2021-22.
346:, the company has 29 regional offices and more than 2,000 active branches nationwide. It also has branches in
1326:
1253:
1336:
1644:
1508:
1490:
1346:
1394:
1389:
1198:
1148:
409:
the
Government of India. All company shares held by the GIC were transferred to the central government.
39:
763:
The
Company's foreign operations in Nepal, Dubai and Kuwait together yielded a Gross Direct Premium of
1331:
1296:
1276:
1549:
1229:
335:
285:
558:(US$ 290 million)). This, coupled with underwriting losses, resulted in a loss before tax of
1311:
1089:
629:
179:
169:
1135:
389:
154:
149:
124:
437:
OICL has constituted the following
Committees as part of its Corporate Governance structure.
1381:
1306:
884:(US$ 1.5 billion) during the FY 2021-22 thus registering a growth rate of 16.58 %.
612:
405:(GIC). OICL became one of the four subsidiaries of GIC, with its headquarters in New Delhi.
164:
159:
1291:
1163:
537:(US$ 39 million), though the income from interest, dividends, and rent increased by
1316:
393:
174:
1618:
1178:
653:
184:
899:
952:"Annual Report 2022-23 - Board Committee Details during the Financial Year 2022-23"
17:
1004:"Annual Report 2022-23: Details of Subsidiary/Joint Ventures/Associate Companies"
506:
The company's overall operational performance resulted in an operational loss of
1434:
1266:
611:
India International Insurance Pte Ltd. Singapore (Total Paid-up Share Capital:
365:(US$ 45 million) during the year 2022-23. It recorded a gross premium of
237:
1301:
343:
97:
60:
306:
870:(US$ 1.7 billion) during the FY 2021-22, whereas the Net premium was
661:
Medical Insurance for State Employees and Pensioners, Government of Kerala
422:
From less than a lakh at its inception, the gross premium figure stood at
1399:
1351:
1208:
120:
777:(US$ 37 million) during the previous year. The Net Premium was at
639:
565:(US$ 590 million) during 2022-23 compared to a loss before tax of
134:
984:. The Oriental Insurance Company Limited. 29 May 2023. pp. 19–20
958:. The Oriental Insurance Company Limited. 29 May 2023. pp. 30–42
385:
351:
82:
601:
Health Insurance TPA of India Limited (Total Paid-up Share Capital:
1084:
355:
347:
260:
103:
86:
1010:. The Oriental Insurance Company Limited. 29 May 2023. p. 23
846:. The Oriental Insurance Company Limited. 29 May 2023. p. 12
753:. The Oriental Insurance Company Limited. 29 May 2023. p. 20
660:
520:(US$ 360 million) in 2021-22, thus recording a decrease of
1055:
978:"Annual Report 2022-23: Operating Results, Overall Performance"
616:
530:
The profits generated by the sale of investments increased by
544:(US$ 18 million). The management expenses increased by
551:(US$ 230 million) mainly on account of wage revision (
670:
412:
OICL made a modest beginning with a first-year premium of
770:(US$ 45 million) during the year 2022-23 as against
665:
877:(US$ 1.7 billion) in the year 2022-23 as against
727:. The Oriental Insurance Company Limited. 27 June 2023
580:
OICL also has two Joint Ventures/associate companies.
372:(US$ 1.9 billion) in the financial year 2022–23.
1581:
Insurance Regulatory and Development Authority (IRDA)
700:"The Oriental Insurance Company Financial Statements"
597:
OICL also holds a stake in the following companies:
1563:
1542:
1499:
1478:
1451:
1433:
1413:
1380:
1360:
1252:
1217:
1134:
1114:
1105:
1096:
608:(US$ 14 million) - Oriental's stake: 23.75%);
301:
291:
281:
258:
235:
212:
193:
142:
110:
92:
66:
56:
46:
795:with a net Incurred Claims Ratio of 66.96 % (
1640:Companies nationalised by the Government of India
473:Board Committees as per the Government guidelines
1625:Financial services companies established in 1947
671:India International Insurance Pte Ltd. Singapore
816:(US$ 14 million) during the previous year.
441:Board Committees as per the Companies Act, 2013
392:business. Following the nationalisation of the
1635:Government-owned insurance companies of India
1067:
840:"Annual Report 2022-23: Chairman's Statement"
513:(US$ 310 million) in 2022-23 as against
454:Board Committees as per the IRDAI regulations
8:
715:
713:
32:
747:"Annual Report 2022-23: Foreign Operations"
1410:
1357:
1214:
1111:
1102:
1074:
1060:
1052:
809:(US$ 300,000) as against a net surplus of
694:
692:
690:
688:
686:
31:
1368:Life Insurance Corporation of India (LIC)
834:
832:
830:
828:
826:
824:
619:37.31 million) - Oriental's stake: 20%).
358:that together yielded a Gross Premium of
932:. The Oriental Insurance Company Limited
906:. General Insurance Corporation of India
1529:Pradhan Mantri Jeevan Jyoti Bima Yojana
1030:"THE INDUSTRIAL CREDIT COMPANY LIMITED"
682:
1122:Agriculture Insurance Company of India
635:General Insurance Corporation of India
583:OICL has one wholly-owned subsidiary,
429:(US$ 1.9 billion) in FY 2022–23.
403:General Insurance Corporation of India
33:The Oriental Insurance Company Limited
894:
892:
666:Health Insurance TPA of India Limited
585:The Industrial Credit Company Limited
7:
1630:General insurance companies of India
1555:Industrial Policy Resolution of 1956
491:The Information Technology Committee
1524:Pradhan Mantri Suraksha Bima Yojana
468:Policyholders' Protection Committee
398:Life Insurance Corporation of India
324:The Oriental Insurance Company Ltd.
863:(US$ 1.9 billion) as against
396:business and the formation of the
25:
1519:Pradhan Mantri Fasal Bima Yojana
784:(US$ 43 million) as against
254:(US$ −600 million) (2022-23)
231:(US$ −400 million) (2022-23)
51:Central Public Sector Undertaking
1599:
1598:
1421:Employees' State Insurance (ESI)
1083:
277:(US$ 4.2 billion) (2022-23)
267:
266:
244:
243:
221:
220:
208:(US$ 1.9 billion) (2022-23)
198:
197:
38:
1486:Agricultural insurance in India
576:Subsidiaries and Joint Ventures
334:insurance company owned by the
1534:Rashtriya Swasthya Bima Yojana
1:
1586:Insurance Repository in India
494:Appeal and Memorial Committee
1576:Insurance Institute of India
956:orientalinsurance.org.in/en/
930:orientalinsurance.org.in/en/
587:, with a paid-up capital of
27:Indian public-sector insurer
1661:
1514:Biju Swastya Kalyan Yojana
1594:
1008:orientalinsurance.org.in/
982:orientalinsurance.org.in/
844:orientalinsurance.org.in/
751:orientalinsurance.org.in/
725:orientalinsurance.org.in/
497:Human Resources Committee
478:Property Review Committee
465:Risk Management Committee
384:OICL was incorporated at
37:
704:orientalinsurance.org.in
338:and administered by the
1509:Ayushman Bharat Yojana
1491:National Health Policy
1240:United India Insurance
486:Other Board Committees
481:Remuneration Committee
72:; 77 years ago
70:12 September 1947
1154:Aditya Birla Capital
462:Investment Committee
433:Corporate Governance
1550:Insurance Act, 1938
1395:ManipalCigna Health
1230:New India Assurance
502:Overall Performance
342:. Headquartered in
340:Ministry of Finance
336:Government of India
293:Number of employees
286:Government of India
34:
1235:Oriental Insurance
1225:National Insurance
1090:Insurance in India
1034:The Economic Times
900:"History in Brief"
630:Insurance in India
180:Aviation insurance
170:Property insurance
18:Oriental Insurance
1612:
1611:
1474:
1473:
1429:
1428:
1376:
1375:
1248:
1247:
1184:Kotak Mahindra GI
1130:
1129:
1036:. 2 February 2024
390:general insurance
321:
320:
307:orientalinsurance
155:Vehicle insurance
150:General insurance
135:Appointed Actuary
16:(Redirected from
1652:
1602:
1601:
1411:
1358:
1307:ICICI Prudential
1287:Canara HSBC Life
1215:
1189:Reliance General
1159:Cholamandalam MS
1112:
1103:
1088:
1087:
1076:
1069:
1062:
1053:
1046:
1045:
1043:
1041:
1026:
1020:
1019:
1017:
1015:
1000:
994:
993:
991:
989:
974:
968:
967:
965:
963:
948:
942:
941:
939:
937:
922:
916:
915:
913:
911:
904:www.gicre.in/en/
896:
887:
886:
883:
881:
876:
874:
869:
867:
862:
860:
853:
851:
836:
819:
818:
815:
813:
808:
806:
801:
799:
794:
790:
788:
783:
781:
776:
774:
769:
767:
760:
758:
743:
737:
736:
734:
732:
717:
708:
707:
696:
657:
656:
654:Official website
607:
605:
593:
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571:
569:
564:
562:
557:
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548:
543:
541:
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428:
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371:
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364:
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317:
314:
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308:
276:
274:
270:
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263:
253:
251:
247:
246:
230:
228:
224:
223:
215:Operating income
207:
205:
201:
200:
165:Marine insurance
160:Health insurance
138:
130:Ms Yogita Arora
128:
116:Sh. R. R. Singh
80:
78:
73:
42:
35:
21:
1660:
1659:
1655:
1654:
1653:
1651:
1650:
1649:
1615:
1614:
1613:
1608:
1590:
1559:
1538:
1501:
1495:
1470:
1447:
1425:
1409:
1390:Care (Religare)
1372:
1356:
1244:
1213:
1204:Shriram General
1174:Future Generali
1126:
1092:
1082:
1080:
1050:
1049:
1039:
1037:
1028:
1027:
1023:
1013:
1011:
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997:
987:
985:
976:
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872:
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865:
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837:
822:
811:
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792:
786:
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772:
771:
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730:
728:
719:
718:
711:
698:
697:
684:
679:
652:
651:
648:
626:
603:
602:
589:
588:
578:
567:
566:
560:
559:
553:
552:
546:
545:
539:
538:
532:
531:
522:
521:
515:
514:
508:
507:
504:
488:
475:
456:
446:Audit Committee
443:
435:
424:
423:
414:
413:
382:
367:
366:
360:
359:
330:) is an Indian
305:
297:8,281 (2022-23)
294:
272:
271:
259:
249:
248:
240:
226:
225:
217:
203:
202:
189:
132:
131:
129:
118:
117:
113:
106:
100:
76:
74:
71:
28:
23:
22:
15:
12:
11:
5:
1658:
1656:
1648:
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1642:
1637:
1632:
1627:
1617:
1616:
1610:
1609:
1607:
1606:
1595:
1592:
1591:
1589:
1588:
1583:
1578:
1573:
1567:
1565:
1561:
1560:
1558:
1557:
1552:
1546:
1544:
1540:
1539:
1537:
1536:
1531:
1526:
1521:
1516:
1511:
1505:
1503:
1497:
1496:
1494:
1493:
1488:
1482:
1480:
1476:
1475:
1472:
1471:
1469:
1468:
1463:
1457:
1455:
1449:
1448:
1446:
1445:
1439:
1437:
1431:
1430:
1427:
1426:
1424:
1423:
1417:
1415:
1408:
1407:
1402:
1397:
1392:
1386:
1384:
1378:
1377:
1374:
1373:
1371:
1370:
1364:
1362:
1355:
1354:
1349:
1344:
1339:
1334:
1329:
1324:
1319:
1314:
1309:
1304:
1299:
1294:
1289:
1284:
1282:Birla Sun Life
1279:
1274:
1269:
1264:
1258:
1256:
1250:
1249:
1246:
1245:
1243:
1242:
1237:
1232:
1227:
1221:
1219:
1212:
1211:
1206:
1201:
1196:
1194:Royal Sundaram
1191:
1186:
1181:
1176:
1171:
1166:
1161:
1156:
1151:
1146:
1140:
1138:
1132:
1131:
1128:
1127:
1125:
1124:
1118:
1116:
1109:
1100:
1094:
1093:
1081:
1079:
1078:
1071:
1064:
1056:
1048:
1047:
1021:
995:
969:
943:
917:
888:
820:
793:₹241.28 crores
738:
709:
681:
680:
678:
675:
674:
673:
668:
663:
658:
647:
646:External links
644:
643:
642:
637:
632:
625:
622:
621:
620:
609:
577:
574:
570:3,146.87 crore
563:4,956.23 crore
549:1,949.16 crore
518:3,025.25 crore
511:2,604.12 crore
503:
500:
499:
498:
495:
492:
487:
484:
483:
482:
479:
474:
471:
470:
469:
466:
463:
455:
452:
451:
450:
447:
442:
439:
434:
431:
394:life insurance
381:
378:
319:
318:
303:
299:
298:
295:
292:
289:
288:
283:
279:
278:
264:
256:
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241:
236:
233:
232:
218:
213:
210:
209:
195:
191:
190:
188:
187:
182:
177:
175:Crop insurance
172:
167:
162:
157:
152:
146:
144:
140:
139:
114:
111:
108:
107:
102:
96:
94:
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89:
68:
64:
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58:
54:
53:
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44:
43:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
1657:
1646:
1645:Indian brands
1643:
1641:
1638:
1636:
1633:
1631:
1628:
1626:
1623:
1622:
1620:
1605:
1597:
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1587:
1584:
1582:
1579:
1577:
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1569:
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1556:
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1532:
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1525:
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1520:
1517:
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1510:
1507:
1506:
1504:
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1481:
1477:
1467:
1464:
1462:
1459:
1458:
1456:
1454:
1450:
1444:
1441:
1440:
1438:
1436:
1432:
1422:
1419:
1418:
1416:
1414:Public sector
1412:
1406:
1403:
1401:
1398:
1396:
1393:
1391:
1388:
1387:
1385:
1383:
1379:
1369:
1366:
1365:
1363:
1361:Public sector
1359:
1353:
1350:
1348:
1345:
1343:
1340:
1338:
1335:
1333:
1330:
1328:
1327:Reliance Life
1325:
1323:
1320:
1318:
1315:
1313:
1310:
1308:
1305:
1303:
1300:
1298:
1295:
1293:
1290:
1288:
1285:
1283:
1280:
1278:
1275:
1273:
1272:Bajaj Allianz
1270:
1268:
1265:
1263:
1260:
1259:
1257:
1255:
1251:
1241:
1238:
1236:
1233:
1231:
1228:
1226:
1223:
1222:
1220:
1218:Public sector
1216:
1210:
1207:
1205:
1202:
1200:
1197:
1195:
1192:
1190:
1187:
1185:
1182:
1180:
1179:ICICI Lombard
1177:
1175:
1172:
1170:
1167:
1165:
1162:
1160:
1157:
1155:
1152:
1150:
1147:
1145:
1144:Bajaj Allianz
1142:
1141:
1139:
1137:
1133:
1123:
1120:
1119:
1117:
1115:Public sector
1113:
1110:
1108:
1104:
1101:
1099:
1095:
1091:
1086:
1077:
1072:
1070:
1065:
1063:
1058:
1057:
1054:
1035:
1031:
1025:
1022:
1009:
1005:
999:
996:
983:
979:
973:
970:
957:
953:
947:
944:
931:
927:
921:
918:
905:
901:
895:
893:
889:
885:
845:
841:
835:
833:
831:
829:
827:
825:
821:
817:
752:
748:
742:
739:
726:
722:
716:
714:
710:
705:
701:
695:
693:
691:
689:
687:
683:
676:
672:
669:
667:
664:
662:
659:
655:
650:
649:
645:
641:
638:
636:
633:
631:
628:
627:
623:
618:
614:
610:
600:
599:
598:
595:
594:(US$ 6,000).
586:
581:
575:
573:
528:
501:
496:
493:
490:
489:
485:
480:
477:
476:
472:
467:
464:
461:
460:
459:
453:
449:CSR Committee
448:
445:
444:
440:
438:
432:
430:
420:
410:
406:
404:
399:
395:
391:
387:
379:
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373:
357:
353:
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332:public sector
329:
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284:
280:
265:
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257:
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185:Fidelity bond
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19:
1543:Legislations
1038:. Retrieved
1033:
1024:
1012:. Retrieved
1007:
998:
986:. Retrieved
981:
972:
960:. Retrieved
955:
946:
934:. Retrieved
929:
920:
908:. Retrieved
903:
882:12,300 crore
875:14,339 crore
868:14,020 crore
861:15,993 crore
855:
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843:
814:115.49 crore
789:294.07 crore
782:360.34 crore
775:309.47 crore
768:377.70 crore
762:
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750:
741:
729:. Retrieved
724:
703:
596:
584:
582:
579:
542:149.92 crore
535:329.16 crore
529:
525:421.13 crore
505:
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436:
427:15,993 crore
421:
411:
407:
383:
374:
370:15,993 crore
363:377.70 crore
327:
323:
322:
275:35,167 crore
261:Total assets
252:−4,968 crore
229:−3,374 crore
206:15,992 crore
93:Headquarters
47:Company type
29:
1500:Government
1435:Reinsurance
1405:Star Health
1347:Sriram Life
1337:Sahara Life
1322:PNB MetLife
1199:SBI General
1107:Agriculture
800:93.30 crore
556:2,425 crore
1619:Categories
1453:Repository
1332:Kotak Life
1277:Bharti AXA
1149:Bharti AXA
1040:2 February
1014:2 February
988:2 February
962:2 February
936:2 February
910:2 February
850:1 February
807:2.47 crore
757:1 February
731:1 February
677:References
238:Net income
112:Key people
77:1947-09-12
1302:HDFC Life
1292:Edelweiss
1169:HDFC ERGO
1164:Edelweiss
1098:Companies
926:"Profile"
615:5 crore (
606:120 crore
344:New Delhi
98:New Delhi
61:Insurance
1604:Category
1400:Max Bupa
1352:Tata AIA
1342:SBI Life
1317:Peerless
1312:Max Life
1209:TATA AIG
624:See also
143:Products
121:Chairman
57:Industry
1502:schemes
1136:General
640:MEDISEP
380:History
302:Website
194:Revenue
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1479:Policy
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1382:Health
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352:Kuwait
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356:Dubai
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315:/home
282:Owner
104:India
87:India
1571:CISR
1466:NSDL
1461:CDSL
1254:Life
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1016:2024
990:2024
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617:US$
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