Jaitley proposes listing of PSU general insurance companies in Budget

Union finance minister Arun Jaitley on Monday proposed the public listing of four wholly-owned public sector general insurance companies.

Union finance minister Arun Jaitley on Monday proposed the public listing of four wholly-owned public sector general insurance companies.

Union Finance Minister Arun Jaitley leaves the finance ministry to present the General Budget at Parliament House, New Delhi. (Arvind Yadav/ HT Photo)

“...(proposed to) undertaking important banking sector reform and public listing of public sector general insurance and undertaking significant changes in FDI policy,” he said while unveiling Budget 2016-17 in Lok Sabha.

There are four public sector general insurance companies in the country - New India Assurance Company Ltd, National Insurance Company Ltd, Oriental Insurance Co Ltd, and United India Insurance Co Ltd.

Read: Will Jaitley’s budget take a toll on expenses of the common man

Apart from these, there are also two specialised insurers - ECGC and AIC - as well as one life insurance insurer, LIC.

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