Universal Sompo General Insurance is the first Public - Private Partnership in the Indian General Insurance Industry, formed in the year 2007. It is a company headquartered in Mumbai, Maharashtra, India and is a joint venture between Allahabad Bank, Karnataka Bank, Indian Overseas Bank, Dabur Investments, and Sompo Japan Insurance.Three of the Indian partners are banks with a combined asset base of Rs. 3,14,071 crores and over 4000 branches and distribution centers while the 4th India partner is also the fourth largest FMCG company in India with over 1.5 million retail outlets. On the other hand, Sompo Japan Insurance Inc., headquartered in Tokyo, is a Fortune 500 Company with a capital of 70 billion yen, and is present in 27 countries, has over 15,000 employees and 69,028 agents. It is the largest property and casualty insurance company in Japan. Universal Sompo is present across almost all product lines, classified into five major classes: Property, Marine, General Accident, Workmen Compensation and Motor.