The Oriental Insurance Company
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Oriental Insurance Company which is a fully owned subsidiary of the Oriental Government Security Life Assurance Company Ltd has commenced its journey from 12 September 1947 and was incorporated at Bombay. The reason behind its beings was to carry our general insurance business. The company happened to be the subsidiary of the Life Insurance Corporation of India since 1956 till 1973 until the General Insurance Business was nationalized in the country. However, in 2003 all shares of the company which were held by the General Insurance Corporation of India have been transferred to Central Government. The company has grown brick by brick with the help of its corporate and manpower strength of highly trained and motivated work force that come from various disciplines and possesses vast expertise.
It acted as a pioneering motivation behind laying down work-systems for smooth, organized and orderly conduct of the business. The specialization of Oriental Insurance company lies in its devising of special covers for large projects like power plants, petrochemicals, steel and chemical plants. The company has developed and renovated various kinds of insurance covers and policies to deliver service provision to a vast portion of both urban and rural population of India. Its highly technically qualified and competent tea of personnel take care of meeting customers’ an clients’ needs of various kinds apart from providing excellent customer care services, and thus contribute towards the company’s growth and reputation. It started with a modest beginning amount of just Rs 99, 946 in 1950 but has gone upwards to the Gross Premium of Rs 58 crores in 1973 which further went up to Rs 4077.90 in 2008-09. Since then till today, it’s meeting all the parameters of success.
ORIENTAL with its head Office at New Delhi has 31 Regional Offices and nearly 1800+ operating Offices in various cities of the country. The Company has overseas operations in Nepal, Kuwait and Dubai. The Company has a total strength of around 14,000+ employees. From less than a lakh at inception, the Gross Premium went up to Rs.58 crores in 1973 and during 2015-16 the figure stood at a mammoth Rs. 8611 crores.