ForumIAS LATEST
- 5 August | Toppers Wrote 1000 Answers Between Prelims & Mains! | Click Here to Watch →
- 5 August | Are you the Average of the 5 People Around You by Mr. Ayush Sinha | Click Here to Watch →
- 5 August | First UPSC Mains Don't Chase AIR 1 by Mr Ayush Sinha | Click Here to Watch →
United India Insurance chief expects PSU insurers’ merger by March 2019
Context:
At the National Insurance-ASSOCHAM Summit, Chairman of United India Insurance Co. Ltd. has said that the proposed merger of three public sector insurance firms may be completed by early 2019.
Background:
Finance Minister Arun Jaitley in his Budget speech had proposed a merger of three general insurers — National Insurance Co. Ltd., United India Insurance and Oriental Insurance Company Ltd.
Advantage of the merger:
- There are a lot of operational advantages and savings that will accrue from this proposed merger
- The merger is expected to create a stronger entity to fetch better valuations at the time of listing.
