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BANGALORE: Oriental Insurance Company Ltd (OICL) has emerged as a leader in Karnataka taking 32 per cent market share.

The company has reported gross direct premiums of Rs 259.86 crore in the State as on March 31 this year. This was about 10 per cent of the national collections. The company has a gross premium accretion nationwide of Rs 3,090.55 crore. The premiums include fire, medical, marine and miscellaneous, which includes motor and third party insurance. The company, currently, has a network of 64 offices in the State and a dedicated agency force equivalent to 1,682 people, according to a release by the company.

OICL has also issued a policy to the Karnataka Government covering about 10 million schoolchildren against accidents and loss of text books, the release added.

In addition, the company has also tied up with the Postal Department for vending some of its policies.

(This article was published in the Business Line print edition dated September 13, 2005)
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