Budget 2018: Govt to combine 3 insurance cos, list entity on stock market
The minister likewise said the government has started tactical disinvestment in 24 public sector units (PSUs), including nationwide provider Air India
FM Arun Jaitley providing the spending plan in the Parliament As part of divestment of public sector entities, Finance Minister Arun Jaitley today stated the government will merge 3 basic insurance firms into one and subsequently list the entity on stock market.
“Three public sector basic insurance provider– National Insurance Co Ltd, United India Assurance Co Ltd and Asian India Insurance Business– will be merged into a single insurance company and be subsequently listed,” he stated while presenting the Budget 2018-19 in Parliament today. The minister stated the government has actually begun tactical disinvestment in 24 public sector systems(PSUs), consisting of national provider Air India . As part of divestment of stake in its general insurance coverage firms, the government
diluted stakes in New India Assurance Co Ltd and General Insurance Corporation of India in 2015.