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Three general insurance companies to be merged soon, Finance Ministry issues cabinet note


New Delhi, Nov 13(HS): The Cabinet Note
has been issued by the Finance Ministry on the merger of three government
general insurance companies. Explain that the government will form a company by
merging the National Insurance Company, the United India Insurance Company, and
the Oriental India Insurance Company. After this merger, it will become the
largest general insurance company in the country.

Last month, the finance ministry sent
a proposal to the cabinet regarding the merger of these three companies and now
the finance ministry has issued a cabinet note on the merger of these
companies. According to the premium, the share of the 25 percent premium comes
from the share of the three companies, including the three companies.

The government will give Rs 12,500 crore-
Along with the merger of these three companies, the government will give about
12,500 crore rupees to those three companies at the time of the merger. This amount
will be for meeting these three regulatory requirements.

Hindusthan Samachar/Radha/Pramod