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        News and Press Release

        Merger of State-owned General Insurance Companies

        March 22, 2018

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        The Union Minister of Finance in his Budget Speech for 2018-19 announced that the three Public Sector General Insurance Companies viz. National Insurance Company Limited, United India Insurance Company Limited and Oriental India Insurance Company Limited will be merged into a Single Insurance Entity and will be subsequently listed. The merger is expected to lead to effective utilization of infrastructure and improved solvency margin.

        The details of Net Profit, Net Worth And Total Market Share Of State-Owned General Insurance Companies namely Oriental Insurance, National Insurance and United Insurance during the last three years are given below.

        This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha.

        Merger of public sector insurers announced to form a single listed insurance entity, aiming improved solvency and efficiency. Merger announced to consolidate National Insurance Company Limited, United India Insurance Company Limited and Oriental Insurance Company Limited into a single listed insurance entity to secure economies of scale, more effective utilisation of infrastructure and improved solvency margin. Financial data on net profit, net worth and market share for the prior three years was provided by the Minister of State for Finance in a written parliamentary reply and published as a government press release.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Merger of public sector insurers announced to form a single listed insurance entity, aiming improved solvency and efficiency.

                                Merger announced to consolidate National Insurance Company Limited, United India Insurance Company Limited and Oriental Insurance Company Limited into a single listed insurance entity to secure economies of scale, more effective utilisation of infrastructure and improved solvency margin. Financial data on net profit, net worth and market share for the prior three years was provided by the Minister of State for Finance in a written parliamentary reply and published as a government press release.


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