Central Government may reduce stake in New India Assurance and GIC Re

After the initial public offerings of General Insurance Re and New India Assurance last year, the government is planning to reduce its stake further in the two companies with offers for sale later this year. Additionally, the Centre’s plans to merge National Insurance, Oriental Insurance and United India Insurance and list the merged entity on the bourses has effectively been put on the backburner for now, with officials admitting that just merging the three companies will be a time-consuming process.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.