The Oriental Insurance Company was established on 12th September 1947 in Mumbai.
Image: company logo
Its headquarters are located in New Delhi, and it is a government owned non-life insurance company and was formed to perform general insurance business. With a first year premium of close to one lakh, the company made a decent beginning in 1950.
It is specialised in designing special covers for huge projects like petrochemical, power plants, chemical and steel plants. It was LIC’s subsidiary from 1956 to 1973 and now all shares from General Insurance Corporation are transferred to central government in 2003.
The company is famous for its well-designed systems for smooth functioning of the business. It also has a highly skilled and trained workforce for the best customer service. The company has developed various insurance plans both for rural and urban populations in India. Some of the products are Motor Insurance policy, Personal Accident policy, Individual Mediclaim policy, Shopkeeper policy, and Household policy as well as Nagarik Suraksha policy.
With a goal of “Service to clients”, Oriental Life Insurance Company has expanded its distribution network and now it has around 30 Regional Offices and more than 1800 operating offices in different cities in India. It has also ventured overseas market with operations in Dubai, Nepal and Kuwait. Thus it emerged as one of the leading insurance providers in the country also using its international capabilities.