Finance Ministry to issue Cabinet note on listing of PSU insurers soon

Zee Media Bureau

New Delhi: In the latest, Finance Ministry is all set to issue a draft Cabinet note on listing of public sector insurance companies. This development comes in line with the announcements made in the budget.

"Cabinet note for consultation on listing of four PSU general insurance companies will be issues in the next few weeks," sources said.

There are 52 insurance companies operating in India, of which 24 are life insurance business and 28 in general insurance. 

"... (proposed to) undertaking important banking sector reform and public listing of public sector general insurance and undertaking significant changes in FDI policy," he had said while unveiling Budget.

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

Besides, there are two specialised insurers -- ECGC and AIC -- one life insurance insurer, LIC. 

(With PTI inputs)