(PTI)
The government is exploring various consolidation options including merger of state-owned general insurance companies with New India Assurance with a view to create synergy and unlock value. The Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance is also looking at other options including stake sale in three state-owned insurance firms like National Insurance Company, Oriental Insurance Company and United India Insurance Company, sources said.
The idea is to fast track stake sale in the public sector general insurance companies, which has been pending for the past two years, sources said. Various options including issuance of fresh shares which could be subscribed by New India Assurance are also being explored, they said, adding that direct sale of stake to New India is also in the consideration.
