Mumbai : Universal Sompo General Insurance Company Limited has entered into a strategic partnership with Andhra Pradesh Grameena Bank (APGB) to offer a wide range of general insurance products across all 26 districts of Andhra Pradesh.

APGB operates through a strong network of 1,351 branches, serving the rural and semi-urban population of the state. With a mission to promote financial inclusion, the bank supports agriculture, small and marginal farmers, self-help groups (SHGs), priority sector lending, and MSMEs.

Through this alliance, Universal Sompo aims to leverage the ‘State Insurance Plan’ in its allocated state to enhance access to affordable insurance solutions for the people of Andhra Pradesh. The collaboration will focus on providing customized products for rural and agrarian communities, addressing key risks such as crop loss, property damage, and health emergencies.

The partnership is designed to simplify insurance access through bundled offerings with banking products, ensuring convenience in enrolment, premium payments, and claim settlements. Together, APGB and Universal Sompo will work to build greater awareness and trust among customers by offering affordable premiums, transparent processes, and localized service support.


K. Pramod Kumar Reddy, Chairman of Andhra Pradesh Grameena Bank, stated that the partnership with Universal Sompo enables the Bank to deliver greater value to customers through seamless and integrated financial and insurance solutions.

Sharad Mathur, Managing Director & CEO of Universal Sompo General Insurance, commented, “This alliance will enable both organizations to serve the rural farming community, including self-help groups and MSMEs. We are strategizing to cover uninsured vehicles and dwellings, thereby reducing the protection gap. The increasing frequency of natural catastrophes in the state has heightened awareness among rural and urban communities. We are also in advanced discussions to promote parametric insurance solutions in Andhra Pradesh.”

This partnership underscores Universal Sompo’s commitment to strengthening insurance penetration in rural India and supporting the economic resilience of communities across Andhra Pradesh.