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Board of Directors

Mr. O.N. Singh

Non-Executive Chairman

Mr. Sharad Mathur

Managing Director & CEO

Mr. Mohit Burman

Non-Executive Director

Mr. P. Jayarama Bhat

Non-Executive Director

Mr. Shenoy Vishwanath V.

Additional Non-Executive Director

Mr. Hirokazu Yokomizo

Non-Executive Director

Mr. Daniel Neo

Non-Executive Director

Mr. N.Ravichandran

Additional Non-Executive Director

Mr. Mahesh Kumar Bajaj

Additional Non-Executive Director

Mr. Yasuhiro Sasanuma

Non-Executive Director

Dr. Ram Nath

Independent Director

Ms. Chhaya Palrecha

Additional Independent Director

Mr. Kuniaki Takahashi

Alternate Director

Mr. Aditya Tibrewala

Alternate Director

Mr. O.N. Singh, the founder Chairman Universal Sompo General Insurance having experience of more than 46 years in Senior Consulting, Business and Strategic roles.

In his long career, Mr. Singh has worked in multiple functions in Banking and Insurance vertical. He started his career in 1971. In 2003, he was appointed as Chairman and Managing Director of Allahabad Bank. He has also worked with Industrial Investment Bank of India as Chairman and Managing Director from 2004 to 2006.

In 2007, Mr. O.N.Singh was selected by Finance Ministry to form India’s first private public sector joint venture i.e. Universal Sompo General Insurance Co. Ltd in General Insurance Industry with two Public Sector Banks, namely Indian Bank & Indian Overseas Bank, one private sector bank namely Karnataka Bank, one FMCG company namely Dabur Group and a leading Japanese General Insurance Company namely Sompo Japan Insurance Inc.

In addition to his responsibilities at Universal Sompo, Mr.O.N. Singh is a member of the Indian Bank’s Association (IBA) and National Institute of Disaster Management (Appointed by the Union Home Ministry Government of India).

Moreover, Mr. O.N.Singh holds Bachelor’s degree in Commerce from Banaras Hindu University and Master’s degree in Law from Lucknow University. He later on went to pursue professional course of Chartered Accountancy to become a member of Indian Institute of Chartered Accountants.

Mr. Sharad Mathur having 23 years of rich experience primarily in General Insurance Industry

He has been employed with SBI General Insurance Company Limited in different roles since its inception, in the year 2009 and finally as Head - Distribution till July 2019, appointed as a KMP by the Board of Directors of the Company.

He also had a specific stint in a new General Insurance project, developing business structure and long-term strategy for a proposed venture. Earlier, he has been employed with ICICI Lombard General Insurance Company Limited, since its inception, in the year 2001, in various regional and national leadership roles. In the past, he has worked with large diversified manufacturing organizations, including, MRF, Bharat Shell and Reliance Retail.

He also served as Chairman of Insurance Awareness Committee & Associated with multiple organizational committees including product development, customer grievances, motor insurance profitability, bancassurance steering and disciplinary & premises Committee.

He holds a Bachelor's degree from Delhi College of Arts and Commerce, University of Delhi; Completed Post-Graduation Program in Management with a specialization in Marketing IIPM; 'Certification Programs in Leadership and Management from Indian School of Business and Harvard.

He has been a key-note speaker and panellist in international insurance summits, being held in parts of Asia, South Africa and Europe.

He has been conferred with 2 prestigious awards such as '50 Most Talented Retail Professionals of India' by CMO Asia and '50 Most Influential Digital Media Professionals' by World Marketing Congress.

Mr Singh has over 21.6 years of experiences in the Marketing field covering Financial Risk, Business Relationship Management, Health Insurance, Operations Management, and Risk Management. He is currently based in Head-office of Universal Sompo General insurance Co. Ltd-Mumbai.

Mr Singh joined Universal Sompo in 2008 as a Business head of USGI-North zone and further relocated to Head Office-Mumbai in 2015 as Chief Marketing Officer of Universal Sompo General Insurance Co. Ltd

Prior to joining Universal Sompo group, Mr. Bisheshwari Singh has worked with IFFCO-Tokio General Insurance Co. Ltd as a SBU Head-Noida.

Mr Bisheshwari is holding Fellowship certificate from Insurance Institute of India.

He is associated with Sompo Japan Nipponkoa Insurance Inc. He was also on the Board of USGI from April 2017 till 10th May 2018. Mr. Hashiba will look after Global Marketing and also oversee the functions of CIO and CRO.

Mr. Tanmaya Panda has perambulated the corridors of the mammoth Indian HR fraternity for more than 26 years. He has made considerable contributions to both the public and private sector space in Indian BFSI organizations like Allahabad Bank and Bank of Baroda and non-BFSI organisations like Reliance Industries Ltd, Bharat Electronics Ltd., and GVK EMRI. Before joining Universal Sompo General Insurance Co. Ltd, he was working with National Payments Corporation of India. He took charge as Head HR of Universal Sompo General Insurance Co. Ltd in 2015.

Mr. Tanmaya Panda is a Postgraduate in Personnel Management and Labour Welfare from Utkal University, CAIIB, Associate from III and he has continuously upgraded himself by undertaking cutting edge courses in HR at XLRI, Jamshedpur and MDI, Gurgaon .

Awards: He was felicitated as one among the 40 Most Talented HR Leaders in India by the World HRD Congress in partnership with ET Now in 2013, besides being conferred the award of being Most Influential HR Leader in India 2017 by World HRD Congress in partnership with IPE and 100 top HR minds in India 2018 by Times Ascent.

Mr. Nirmal Bhattacharya heads Underwriting of all lines of business, Reinsurance & Risk Management functions as Chief Underwriting Officer. Having started his career as a Direct Recruit Officer in a Public Sector G.I. Comapny NICL in 1984, he has rich experience of more than 35 years in General Insurance Industry with a 360 degree exposure ranging from Underwriting, Claims, Sales & Marketing & Audit to HR/Admn.,Corporate Planning/Strategy, Product Development & Learning & Development in various capacities in NICL & also in two Private Sector GI Companies-MHDI & USGI.

He has been visiting faculty in NIA, Pune, NLU, Jodhpur & III, Mumbai. He authored several study courses for Associateship Examination & Special Diploma Courses & has been examiner, paper -setter & moderator for various examinations of III, Mumbai for more than a decade. He also made a presentation on Indian Insurance Market in International Property Conference organized by HDI Gerling in Hannover,Germany in 2013.

He is a first class Post Graduate in Business Economics from Delhi University & holds Post Graduate Diploma in Personnel Management with distinction from Faculty of Management Studies ,Delhi University. He is an Associate from Insurance Institute of India, Mumbai.

He was awarded prestious Technical Paper Award on General Insurance by Insurance Institute of India ,Mumbai for his research paper ‘Deductible in Fire & Engineering Insurance and First Loss Insurance .’ in 1995.

Mr. Vikas Garg is a fellow of Institute of Actuaries of India and MBA (Finance) from ICFAI University, has been with the Company since July 2018. He has rich experience of over 11 years in Actuarial domain in General Insurance.

In his previous assignment, he was the Appointed Actuary of Liberty General Insurance. He has also worked with Reliance General Insurance Co. Ltd. from May 2007 to September 2014.

Sanjay Makwana is associated with Universal Sompo General Insurance as a Chief Financial Officer. He is a Commerce Graduate and Chartered Accountants with over 13 years of work experience in General Insurance, Banking and Asset Management Company.

An expert in his field, prior to joining Universal Sompo General Insurance, he worked with BOI AXA Investment Managers, Reliance General Insurance and ICICI Bank.

Mr Karekar has over 17 years of experience in Financial Services, of which over 8 years of experience in Asset Management. In his previous assignment, he was Chief Investment Officer at L&T General Insurance Co. Ltd. from September 2013 – July 2016.

In his position as Chief Investment Officer (CIO), Mr. Karekar leads a team of investment professionals managing funds across asset classes.

He is a Law graduate from University of Mumbai and holds a Post Graduate Diploma in Business Management.

Ms. Puneet Kaur is qualified as Research Doctorate-Excellence Management, MBA-Information Systems from FMS Delhi & B.Tech from Delhi College of Engineering. She has rich experience of 23 years in Information Technology Stream.

  • She has received the "Jewels of Punjab" award from Dr. Manmohan Singh (Former Prime Minister) won the Business Transformation Leaders Award from Tech Circle for 2020
  • Won the NBFC Tech 100 Award for Dirsrupive Technologies in 2019 and 2020
  • Top 100 CISO Award 2011, 2012, 2013 2014, 2015
  • CIO Of the Year 2014, 2015, 2016, 2017
  • Hall Of Fame CIO Award for 2017 (For Bagging CIO 100 for 4 Years in a Row)
  • Business World Award for IT Acceleration for Innovation in Storage In 2014

Mr. Abhijeet Dhamale is Head-Legal & Chief Compliance Officer at Universal Sompo General Insurance Co. Ltd.

Mr. Abhijeet is LL.B and Bachelor of Socio Legal Science (B.S.L). He has rich experience of 16 years in Legal affairs, Statutory compliances, risk management, litigation etc.

He has also served as an Advocate with District & Session Court, Pune.

Ms. Chetna Vasani has overall 16 years of experience out of which 9 years of core experience in handling Corporate Secretarial Functions.

In her previous assignment, She was Company Secretary at FEI Cargo Ltd. from March, 2015 to December, 2017. She was also associated with Star Union Dai-ichi Life Insurance Company Ltd. from Jan, 2009 to Feb, 2015.

She is Associate Company Secretary and also pursued MBA in Finance from reputed Institute.

Universal Sompo - The Vision Statement
  • To emerge as a market leader in our chosen domain by winning customer confidence through superior value and continually enhancing the same.
Our Mission : To provide
  • World class services and products to our Customers
  • Stable returns for our Shareholders
  • Stimulating work environment for our employees
  • Growth along with Customer Centric Approach
  • Highly efficient post claim services to all our customers.
We shall strive
  • To disseminate hassle free customer services from our Point of Sale
  • To connect with customers for imparting procedures about the after sale services of insurance.
  • To ensure prompt action / feedback on Customer grievance
  • To monitor and enhance service levels constantly
  • To achieve sustainable premium growth and focus on bottom line for profitability.


USGI is hybrid of Indian and Japanese, and therefore, USGI also understands and has the DNA of Japan


Employee Development


World class services and products

Hassle free End to End solution can be provided to customers for Finance & Insurance

Banks can provide tie up for providing finance facility to our customers.


Only company in the country with public / private partnership

USGIC’s bank partner network provides banking finance at attractive terms to our customers

Strong lineage of financial giants with proven track record


Introducing IT tools for safe driving using Android/iPhone application “Safety Sight” is being considered to add value to customer


Our partner banks are having over 7700 Bank Branches and are aggressive in retail financing.


  • Structured meetings by Top executives for improved servicing.
  • Company will expand brand visibility through displaying Co-Branded publicity material at strategic position for advancing General Insurance product awareness


  • Virtual policy issuance of many retail Insurance products.
  • Online endorsement issuance
  • Automated generated MIS system to our channel partners.
  • Claims intimation & registration.
  • On line claims status tracking.
  • Grievance management.
  • All claims are being paid through NEFT/ RTGS procedures, thus reducing TAT for claims payment.


USGI is giving Life Advisory such as “Tips of preparing against Cyclone” to customers when those are essential in timely manner.
USGIC’s Claims settlement ratio is at 99.23% and we entertain almost all claims for settlement.
There is no dissonance on the claims issues and Channel partner’s view is considered in case of any potential dispute.
  • Even on renewals, the IMD is not changed and ensures continuity of benefit to Channel partner.
  • Connecting with the customers for imparting procedures about the after sales services of Insurance
  • Deputing dedicated resources have undergone the grind of rigorous soft sales skills training to maintain the high standards of customers interaction
  • Dedicated resources are also trained thoroughly on the retail products with special features of ADD ON covers & the procedure of after sales claims servicing.
Pan India distribution and servicing capability.

Mr O.N Singh

Dear Visitor,

I thank you for visiting our company website. Universal Sompo General Insurance is India’s first non-life general insurance company that has the support and partnership of credible Public & Private corporate entities from India and Japan. The collective years of business experience of our partners, spans around 588 years, both in domestic and international markets.

Universal Sompo is a joint venture of Indian Bank, Indian Overseas Bank, Karnataka Bank Limited, Dabur Investments and Sompo Japan Insurance Inc. The company is headquartered in Mumbai and has 86 branches and 17 Zonal offices across India.

‘Banc-assurance’ continues to be a successful distribution channel for extending insurance policies and improving the insurance penetration to the masses residing in India. With the established branch network of our partner banks present across the length and breadth of the country, Universal Sompo leverages the established model to offer a suite of insurance products to the customers of the partner banks. Apart from the Banc-assurance channel, the company has 137 IRDAI approved products that addresses the protection need of an individual as well as large conglomerates to mitigate risk from known/unknown perils. The retail product offerings can be opted using traditional channels like our website, branch walk-ins, individual agents, web aggregators etc. Our branch network is spread across 86 locations across the country. The company also caters to the protection need of Rural/Semi-urban markets and have designed several policies that specifically address the concerns of rural customers and the farming community, to help them mitigate potential risk that are susceptible to their individual health, assets and live-stocks and are available to the set of customers through the Common Service Centers (CSC) channel.

With 137 approved IRDAI products, Universal Sompo General Insurance offers a gamut of protection tools spanning from Individual Health Policies, Personal Accident cover, Motor & Two Wheeler Insurance, International Travel Insurance & Comprehensive Home Insurance cover. For small and large businesses, we have risk-protection products that financially protect our customers from uncertainties that may hamper business operations. Keeping in mind specific challenges that are faced by farmers and rural customers, we have designed products that protect their individual wellbeing as well as their primary assets such as Tractors and Farming equipment’s along with Cattle insurance. Universal Sompo General Insurance has been actively partnering with the Government of India for extending Social Security packages as well as Weather and Crop Insurance schemes.

Universal Sompo General Insurance was granted license and certificate of registration from Insurance Regulatory Development Authority of India in November 2007. Since the inception of the company operations, we have endeavored to strive towards offering holistic and affordable protection policies that would financially support our customers’ without derailing their individual and business journey towards their individual wellbeing and business continuity.

We thank you once again for visiting our website and showing interest in knowing more about our company. We look forward to serve you at every step of your life journey through our products & services.

O. N. Singh
Universal Sompo General Insurance Co. Ltd.

Mr Sharad Mathur

Dear Visitor,

I thank you for taking out the time to visit the website of Universal Sompo General Insurance; to know more about our organization & its people, along with the Products and Services offered through this direct online channel.

At Universal Sompo General Insurance Company Ltd, we collectively work towards extending products that are designed to mitigate new-age risk associated with individual health and other materialistic assets and possession. The company has been catering to a wide range of customers’ across the length and breadth of our country, through our various channels such as Banc-assurance, Common Service Centers (CSC), Point Of Sales (PoS), Web Aggregators, Individual Agents, OEM partners & thought our company website.

We understand the pivotal role of the Digital & Mobile Channels and therefore our intent has always been to be present across Omni-channels, to provide ease of product purchase and service delivery to our esteemed customers.

On our website, we are extending the convenience of purchasing a broad range of our Retail Product offerings across Health, Motor, and Travel & Home categories. Our online policy renewal process will empower the existing customers to also seamlessly initiate policy renewals at any hour of the day.

Keeping pace with new innovations in the fast digital environment, we will constantly strive towards ensuring that we adopt robust and seamless technologies on our website to make the entire Customer Onboarding & Servicing a pleasant experience for the website visitor.

From Online Sales of our products to extending Customer Service, our website empowers customers to take note of various channels of direct communication with the company representatives and its associated service partners, for any issues related to Product Feature of Claim processes that can be escalated to the cognizance of the Company Authority or to the concerned authorities as designated by the regulator.

Our endeavor is to enrich your online experience while transacting on our website to further strengthen the ‘Trust’ and ‘Promise’, which is the ultimate parameter towards Customer Satisfaction.

We assure our commitment and promise to serve every customer of Universal Sompo General Insurance with the same zeal and seriousness, irrespective of the channel they have adopted or the ticket size of the policy they have opted from our organization.

At Universal Sompo General Insurance, we have imbibed the golden words spoken by the renowned painter and architect Raffaello Sanzio also known as “Raphael” in our work culture and customer outreach programs that“There’s only one thing that matters, Customer Satisfaction”.

Sharad Mathur
Managing Director & Chief Executive Officer
Universal Sompo General Insurance Co. Ltd.

Annual Report for the financial year :


At Universal Sompo General Insurance Co. Ltd, we believe relationships with our stakeholders is strengthened & nurtured by imbibing an attitude towards ‘Caring’ and a commitment of ‘Concern’ towards the welfare of our customers and employees during the time of distress, as well as, being preemptive towards mitigating future Risks. Our Customer Outreach activities include organizing Health Camps and Consumer Awareness Roadshows for providing knowledge empowerment and overall wellbeing of our customers. We stand-by our customers and citizens of our country during natural catastrophic events and give our best efforts to try and minimize their distressful situations through our team efforts and leveraging our network channels for extending assistance services. At workplace, we work towards creating a healthy work environment for our fellow colleagues through organizing internal Employee Engagement activities towards Training, Employee Welfare and fun activities during the festive period and important national celebrations. Let us give you a glimpse of our universe.


Employee Engagment

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Customer Outreach

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