Merger of State-owned General Insurance Companies

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.