As part of divestment of public sector entities, Union Finance Minister Arun Jaitley on Thursday said the government will merge three general insurance firms into one and subsequently list the entity on stock exchanges.
“Three public sector general insurance companies — National Insurance Co Ltd, United India Assurance Co Ltd and Oriental India Insurance Company — will be merged into a single insurance company and be subsequently listed,” he said while presenting the Budget 2018-19 in Parliament on Thursday.
