Public sector general insurer United India Insurance is reportedly planning to re-enter overseas markets, in a bid to expand its operations.

The company intends to carry out a feasibility study to evaluate the business opportunities in a short time.

Earlier, the company carried out operations in Hong Kong, but were shut down in 2002.

United India Insurance chairman and managing director Milind Kharat said the company may look at markets of the West Asia and Sri Lanka to begin with, as these markets offer good business potential.

"Many business houses from Tamil Nadu have commercial and business interest in Sri Lanka. So it is a natural extension for us," Kharat added.

In the last fiscal, United India launched 1,114 micro offices, and is planning to strengthen these offices further through technical support, as well as additional manpower.

India’s one of the largest non-life insurers, New India Assurance was carrying operations in around 22 countries.