3 PSU non-life insurance cos to meet on Feb 16 on merger

The three public sector general insurance companies will be meeting on February 16 to deliberate on the proposed merger plan, a top official of United India Insurance said.

As part of divestment of public sector entities, the government has proposed in the Budget to merge National Insurance Company, United India Insurance and Oriental Insurance Company into one and subsequently list the new entity on stock exchanges.

"All the three public sector general insurance companies are meeting on the 16th of this month for discussions on Budget pronouncements," United India Insurance chairman and managing director M N Sarma said here today on the sidelines of Assocham organised health insurance summit.