Shri Kharat is a Post Graduate in Economics from University of Bombay and a LLB from Shivaji University, Kolhapur. He is also a Fellow of the Insurance Institute of India.
Shri Kharat began his career as a Direct Recruit Officer of 1979 batch of General Insurance Corporation of India and has subsequently held different positions at various levels with diverse profiles including Divisional Manager, Sr. Divisional Manager, Regional In charge etc in New India Assurance Company Ltd.
Shri Kharat had two stints of foreign postings in Fiji and Japan. He had been recognized with Awards for his excellent performance during his tenure at Fiji as Chief Manager from 1995 to 2001. He held positions as Director of Fiji Reinsurance Corporation and Chairman of Insurance Council of Fiji, made significant contributions in revising Fiji's Insurance Act, 1998 and served as Executive Member on National Road Safety Council of Fiji, the body responsible for Road Safety in Fiji.
Shri Kharat was posted as CEO for Japan Operations of New India Assurance Co. Ltd. from 2004 to 2007. He was Executive Committee Member of Foreign Non-Life Insurance Association of Japan and Member of the Finance Committee for Celebration of Indo-Japan Friendship Year 2007.
He brought to AIC his experience from the fields of HR, Training, Marine Cargo, Marine Hull, Motor and Legal departments.
From AIC, Shri Milind A. Kharat has assumed charge as the Chairman-cum-Managing Director of United India Insurance Company Limited (UII) on October 18, 2012.