Government approves listing of state-owned general insurance companies
The Cabinet Committee on Economic Affairs has approved the listing of five Government owned general insurance companies on the stock exchanges. The five Public Sector General Insurance Companies (PSGICs) are The New India Assurance Company Ltd., United India Insurance Company Ltd., Oriental Insurance Company Ltd., National Insurance Company Ltd. and General Insurance Corporation of India. The shareholding of these PSGICs will be divested from 100 per cent to 75 per cent in one or more tranches over a period of time.
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