Millennium Post

Oriental Bank shows growth rate of over 11%

Oriental Bank shows growth rate of over 11%
The Oriental Insurance Company Ltd. was incorporated on 12th September, 1947. It has completed 65 years of operations and is a wholly owned Company of Government of India.  

The Company has 30 Regional Offices and more than 1200 Operating Offices in various cities and also has overseas operations in Nepal, Kuwait and Dubai.  

The Company has a total strength of 15000+ employees and has done a total premium income of Rs.6195 crores in FY 2011-12 with growth rate of 11.22 % on gross basis, recording a PBT of Rs.366.34 crores and PAT of Rs. 253.39 crores.  

The Company has declared a dividend of Rs. 50.67 crores i.e. more than 50% during 2011-12.  The Company has earned investment income of Rs. 1609.62 crores in FY 2011-12.

The Company is enjoying a Credit rating of ‘AAA’ from CRISIL, ‘iAAA’ from ICRA and a rating of ‘B++’ (Very Good) from AM BEST.

The main strength of the company is a very strong IT network with all the offices on the Core Insurance Solution and has been selling its various products on line on the Web-portal since 2009.
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