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.

“...(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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