New Delhi The government has taken a big decision regarding the privatization of 3 government general insurance companies. This will provide relief to the general public and thousands of employees working in these companies. According to the information, the news of privatization of the three companies is just a rumor.
Our partner website zeebiz.com According to the exclusive information received, the government is not going to privatize any of the three general insurance companies – United India Insurance Company, National Insurance Company and Oriental Insurance Company. The government will merge these companies to form only one company.
Investment of Rs 12,450 crore
At the same time, the government had recently announced a capital investment of Rs 12,450 crore in all three companies. If the government was going to privatize these three companies then it would not announce the infusion of capital.
#ZBizExclusive | Privatization of 3 government insurance companies will not happen … Just one government general insurance company scheme like LIC
– Zee Business (@ZeeBusiness) July 27, 2020
Only one company like LIC
Shah said that even in the general insurance sector, the government wants to keep a company like LIC. After the merger, there will be no competition among these three companies.
This company will merge
A fourth company of these three companies will be in New India Insurance, because it is a listed company in the stock market. By putting capital, the financial condition of these companies will be fine and after that merger, a very large company general insurance company will come into existence.
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