"Private as well as government insurers will benefit from the proposed hike of FDI in insurance to 49 percent these companies will offer better and wide range of insurance products to customers at larger competitive prices," Milind Kharat, Chairman and Managing Director, United India Insurance
Company said here.

"Ultimately our aim is that customers should get the benefits and this hike will provide them better options in choosing from a wide range of insurance products at competitive prices," he said.

He added, "People in the country have more faith on government insurance companies and less on private ones this hike will benefit the state-run companies more than the private ones."

Kharat was here to attend a two-day annual meeting with officers of the company that began here on Tuesday.

At present, the Insurance Bill is under the consideration of Select Committee of Parliament.

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