New Delhi: State-owned Oriental Insurance Company Ltd (OICL) has crossed Rs 20,000 crore in gross premium for the FY 2025-2026, the finance ministry said in a statement on Friday. The development signifies growing trust of policyholders, intermediaries, and stakeholders in OICL in particular and public sector insurance institutions as a whole, it said.
The achievement aligns with the broader objective of the government to promote financial inclusion (Insurance for All by 2047) and ensure wider access to risk protection mechanisms, it said. This growth has been driven by robust contributions from Group Personal Accident (GPA), Health, Fire, and Motor insurance portfolios, it said. In recent years, OICL has strengthened its product suite with offerings such as Oriental Sampoorna Swasthya Suraksha, Drone Insurance, Event Insurance and Custom Duty Insurance, it said.
The Company is also poised to introduce forward-looking solutions like Sarvatra Suraksha Parametric Insurance Policy, Nil Depreciation Comprehensive Policies, including long-term variants and Surety Bond Insurance, aligning with evolving risk landscapes and national priorities, it said. This Department of Financial Services applauded the efforts made by the employees of Oriental Insurance Company Ltd for their commitment to operational excellence and customer service, it said.
The government reiterates its continued support to public sector insurance companies in their efforts to expand outreach, adopt innovative practices, and strengthen service delivery for the benefit of the nation, it added.
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