Celebrating 76 Years of Excellence: The Story of the Oriental Insurance Company

The Oriental Insurance Company Ltd. was incorporated on 12 September 1947 in Mumbai and emerged as an important player in the Indian insurance industry from then on. This company was formed purely with the aim of offering general insurance services and initially functioned as a wholly-owned subsidiary of The Oriental Government Security Life Assurance Company. It had to face numerous changes since its early age. The company was maintained as a subsidiary of the Life Insurance Corporation of India, by virtue of a general insurance industry, nationalized by the Indian government during 1973. By 2003, shares of the company, known as General Insurance Corporation of India were transferred to Central Government as part of a new beginning.

Oriented Insurance Company was fostered with a first-year premium collection of a modest amount of Rs. 99,946 in the year 1950. However, the organization possessed a fine and epoch-making tradition of “service to clients,” which sustained it through the testing times during its years of operation. The principle formed a bedrock on which it could broaden its service to reach a larger segment of the clientele and was recognized as particularized in reliability and excellence.

Today, Oriental Insurance Company is working from more than 1,000 offices in India itself and has a notable global presence with offices in Nepal, Kuwait, and Dubai. The headquarters is at New Delhi, along with 25 regional offices as well as 8 corporate business offices. The firm employs approximately 6,000 professionals with dedication who deliver quality service and insurance solutions customized for the varied needs of its clients. The Oriental Insurance Company has witnessed excellent growth over time, with gross premiums reaching at Rs. 18,796 cores for the fiscal year 2023-2024. The company has also experienced a steep increase in global premiums at 17.5 percent and in domestic ones at 17.1 percent. Such financial performance, however, is a testimonial to the business strategies effectively adopted by the company and adapting to market fluctuations while keeping its customer-centric approach.

In this ever-changing industry, innovation and customer service are the heart of The Oriental Insurance Company, where constant expansion and innovation in new products and services meant to suffice the shifting demands of clients are rooted. Technology investment and training of employees as a tool for promoting an adequately equipped workforce with the latest skills and knowledge to meet client expectations is thus well grounded.

Against these parameters, The Oriental Insurance Company also operates under sound risk management practices. This gives the company the efficacy of identifying, evaluating, and combating all possible risks. This would go a long way in protecting the company as well as its clients generally. It is in this respect that the Oriental Insurance Company aims to set a stable environment for growth and sustainability by holding a robust framework of risk management.

Oriental Insurance Company is not only profitable but also engaged in CSR activities. CSR is a good point, therefore, of the importance of the company so as to give back to society and to be part of programs targeted towards education, health, and environmental sustainability. This dedication to social responsibility enhances its reputation as a trustworthy and ethically responsible insurance provider.

The Oriental Insurance Company has built a legacy of the ancient and modern approaches of life to ensure it keeps in step with the world of insurance by abandoning its very first principles.