Economy We will move forward on insurance PSUs merger, says Nirmala Sitharaman Updated : November 17, 2019 10:25 AM IST The proposed merger of National Insurance Co Ltd, United India Insurance Co Ltd and Oriental Insurance Co Ltd has not been able to move forward due to their weak financial position. According to the guidelines of the Insurance Regulatory and Development Authority of India, general insurance companies need to maintain a minimum solvency ratio of 1.50. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.