Govt cancels proposed merger of 3 PSU non-life insurers
The government has withdrawn the merger proposal of state-run general insurance companies -- Oriental Insurance, United India Insurance and National Insurance -- two years after it was proposed. The government has stated that the merger has been withdrawn due to the current economic situation.
The government has withdrawn the merger proposal of state-run general insurance companies -- Oriental Insurance, United India Insurance and National Insurance -- two years after it was proposed. The merger of the PSU general insurers was proposed by former finance minister Arun Jaitley.
The government has stated that the merger has been withdrawn due to the current economic situation. The government will now be focusing on the growth performance of the three companies, as well as, look at the solvency margins.
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