UGL Limited (UGL), formerly known as United Group Limited) is an engineering and property services company. The company provides construction, maintenance and asset management services to the rail, resources and infrastructure sectors and corporate real estate, facilities management and business process outsourcing services to property users. Its clients are large companies, governments and institutions in Australia, New Zealand, Asia, North America and the Middle East. UGL has partnerships with international technology providers including GE, Mitsubishi and Alstom. UGL employs about 7,700 people globally, including subcontractors.
In the financial year ended 30 June 2014, the company had a revenue of A$4.5 billion and underlying net profit of A$111 million.
UGL was founded as an engineering construction firm in Perth, Western Australia in the late 1960s, and named United Construction Group Limited. United Construction listed on the Australian Stock Exchange in 1994, changed its name to United Group Limited in 1997, and again in 2009 to UGL Limited. It is a member of the S&P/ASX100 Index.
Group insurance is an insurance that covers a defined group of people, for example the members of a society or professional association, or the employees of a particular employer. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than the wish to buy insurance, which might be because they are a worse than average risk.
Group insurance may offer life insurance, health insurance, and/or some other types of personal insurance.
Investopedia defines Group Life Insurance as "Life insurance offered by an employer or large-scale entity (i.e. association or labor organization) to its workers or members. Group life insurance is typically offered as a piece of a larger employer or membership benefit package. By purchasing coverage through a provider on a 'wholesale' basis for its members, the coverage costs each individual worker/member much less than if they had to purchase an individual policy. People who elect coverage through the group policy receive a 'certificate of credible coverage' which will be necessary to provide to a subsequent insurance company in the event that the individual leaves the company or organization and terminates their coverage." (Source:Investopedia)