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Merger of 3 PSU general insurers to be complete by FY20; combined entity to be largest non-life insurance company in country
•The merger of National Insurance Company, United India Insurance Company and Oriental India Insurance Company was first announced in the Budget 2018-19
Three public sector general insurance companies to meet on Friday to discuss merger
•The three public sector general insurance companies will be meeting on 16 February to deliberate on the proposed merger plan, a top official of United India Insurance said
New India Assurance's Rs 10,000 cr IPO to hit market in first week of November; more insurers to follow
•The offer comes soon after the Rs 11,370 crore IPO of General Insurance Corp. of India Ltd (GIC Re), which will be listed on 25 October. It has already been oversubscribed by over 1.35 times.
HCL Signs End-To-End IT Services Engagement With NIC
Fp Archives •The engagement will cover business process re-engineering, application blueprinting and roll out of 19 applications, systems integration and management services across the data centre and network.
Cabinet nod for hiking foreign investment to 62% in Axis Bank
Fp Archives •The approval would result in foreign investment of about Rs 7,250 crore in the country, a statement said.