Govt approves infusion of Rs 2,500 crore into 3 public sector general insurers
Updated : February 13, 2020 06:20 AM IST
These three insurers are Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL).
Union Minister Prakash Javadekar said the capital has been infused in the light of the critical financial position and breach of regulatory solvency requirements of the general insurers.
The capital infusion in these companies comes ahead of their proposed merger by the end of March 2020.