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United India Insurance Collaborates with SIDBI to Offer Insurance Solutions for MSMEs.

Banking & Finance | Dated: 19 Apr 2025

In April 2025, Chennai (Tamil Nadu, TN)-based United India Insurance Company Limited (UIICL), a Public Sector Undertaking (PSU) under the Ministry of Finance (MoF), partnered with Lucknow (Uttar Pradesh, UP)-based Small Industries Development Bank of India (SIDBI) to distribute general insurance products specifically tailored for the Micro, Small and Medium Enterprises (MSMEs) sector.

🎯 Key Highlights:

  • - The collaboration aims to improve insurance penetration among MSMEs by offering a wide range of general insurance solutions to SIDBI's customer base across India.

💡 Other Important Facts:

  • (i) The partnership aims to provide comprehensive insurance offerings, including home, health, motor, and engineering insurance, to customers of SIDBI through its 123 branches across the country.
  • (ii) The initiative focuses on strengthening insurance accessibility among MSMEs, a sector considered crucial for India’s economic development and job creation.
  • (iii) This tie-up will enable MSMEs to access both financial and insurance services through an integrated platform, simplifying processes and boosting protection for small businesses.

📚 Test Your Knowledge:

Which financial institution recently partnered with United India Insurance to offer insurance products for MSMEs?

Correct Answer: SIDBI

🚀 Quick Recap: