Centre likely to consider proposal to reduce stake below 51% in CPSEs soon; Cabinet may decide on merger of state-run insurance firms
The Budget for 2018-19 had proposed the merger of three public sector general insurance companies and subsequent listing of the merged entity on stock exchanges.
Govt mulls merger of state-owned general insurance companies with New India Assurance to create synergy
The idea is to fast track stake sale in the public sector general insurance companies, which has been pending for the past two years, sources said
Govt plans to merge all four state-run insurers to form single, mega entity under New India Assurance Co
The government is reportedly planning to form a single, mega entity by merging all four state-run insurers - New India, Oriental National, United India and New India Assurance
The pension benefit is applicable to those who have joined any of the Public Sector Insurance Companies (PSICs) on or before 28 June, 1995
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
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.
The approval would result in foreign investment of about Rs 7,250 crore in the country, a statement said.
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.