
As per the sources, the Central government may drop its plan to merge three general insurers and instead pick one of them for privatization this fiscal year.
The other two insurance companies may be provided additional capital to strengthen their balance sheets. To begin with, the government will assess the financial performance of all three insurers in the coming quarters.
There was a proposal to merge United India, National Insurance, and Oriental Insurance Companies.
The government had previously infused close to Rs.17,500 crore into United India, National Insurance and Oriental Insurance during FY20-FY22.
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