News From Press Cash-rich PSU general insurer may be asked to buy out smaller ones

Cash-rich PSU general insurer may be asked to buy out smaller ones

Source: ET Mar 5, 2018

Taking cue from ONGCBSE 0.56 % buyout of HPCLBSE -0.86 %, the government may look at replicating the same in the insurance sector by asking a cash rich PSU general insurer to buyout the smaller ones.

A finance ministry official said apart from buy out by cash-rich general insurers, a share-swap could also be considered for smaller insurers.

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