(FE)
The government will prepare a road map to improve the solvency ratios of Oriental Insurance Company (OIC), National Insurance Company (NIC) and United India Insurance Company (UIIC) to at least the regulatory norm of 1.5 times (of assets over liabilities) by infusing capital, before it revives disinvestment plans in these unlisted public sector general insurers, official sources said.
“A road map has to be prepared to first to bring their solvency ratio to the required level before merging the three. After the merger, if the solvency ratio meets the norm, disinvestment of merged entity will be considered,” an official told.
