Finance Minister Arun Jaitley on Monday proposed listing of four wholly-owned PSU general insurance companies.
“…(proposed to) undertaking important banking sector reform and public listing of public sector general insurance and undertaking significant changes in FDI policy,” he said while unveiling Budget 2016-17 in Lok Sabha.
- Government to launch Rs 500-crore credit enhancement fund
- Finance Ministry to select CMDs for three general insurance firms
- Budget proposal to combine three PSU general insurance firms: Post merger, there may be excess of 15,000 staff, Rs 3,000-crore savings
- CCEA clears proposal for listing five PSU general insurers in stock exchanges
- Get board nod for IPOs: Government to PSU insurers
- Budget 2016: Plan to list general insurers on the stock exchanges
There are four public sector general insurance companies — New India Assurance Company Ltd, National Insurance Company Ltd, Oriental Insurance Co Ltd, United India Insurance Co Ltd.
Besides, there are two specialised insurers — ECGC and AIC — one life insurance insurer, LIC.