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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.
