The Singapore based India International Insurance Pte Ltd (III) is planning to expand its operations in Malaysia and Vietnam in the coming years, said Mr. N S R Chandraprasad, Director of India International Insurance, a joint venture of India's five State-owned insurance companies.
The India International Insurance (III) was formed as a regional business unit in 1987 by the Indian Insurance companies. The company has grown tremendously over the last 25 years, providing cover worth million dollars, said Mr. Chandraprasad in a press conference.
Chairman and Managing Director of National Insurance Company, Mr. Chandraprasad said, "But going forward, our plans are to expand III business and product lines".
The company is planning to expand its operations in Malaysia and Vietnam in the coming few years. The four partner companies are The New India Assurance Co Ltd, General Insurance Corp of India, United India Insurance and The Oriental Insurance Co Ltd.