Merger not happening anytime soon for the 3-state run Insurance companies

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With the government preferring to move carefully on the issue of the 3-state run Insurance companies merger, the merger is unlikely to happen anytime soon.

A top official says, “The Department of Investment and Public Asset Management (DIPAM) is not averse to take on the task of stake sale in the public sector banks.” In the 2018-19 Budget speech, FM Arun Jaitley had announced that the three public sector general Insurance companies- National Insurance Company, United India Insurance Company and Oriental India Insurance Company- will be merged into a single entity and subsequently be listed.

DIPAM had asked the department of Financial services to get the issue of merger of the three companies examined and prepare a fresh road. There is a view within the government that the issue needs to be thoroughly examined before rushing into a merger.

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