Government of India – public sector insurance companies are likely to be merged together. The government has made an ‘in-principle’ announcement. Three public sector general insurance companies – National Insurance Co Ltd, United India Assurance Co Ltd and Oriental India Insurance Company – will be merged into a single insurance company and be subsequently listed as per the Budget 2018-19 . As part of divestment of stake in its general insurance firms, the government diluted stakes in New India Assurance Co Ltd and General Insurance Corporation of India last year. The move will likely to bring synergies and will also drive up enterprise value
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