Universal Sompo General Insurance Company, a venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments and Sompo Japan Insurance Inc, is aiming to tap a 2-3% share in the domestic market by 2011-12. It is also eying a premium base of Rs 50 crore by March 2009.
The company commenced its operations in November 2008. Presently, it has 15 branches in the country and intends to set up 17 branches by the end of current fiscal. It markets around 40-odd insurance products under the category of property, marine, general accident and workmen association. The capital base of the company is Rs 235 crore.