The central government, following its banking sector consolidations, is now preparing to merge insurance companies.
Reports indicate that the Finance Ministry is considering a preliminary proposal to combine three government-owned general insurers—Oriental Insurance, National Insurance and United India Insurance—into a single entity.
The move comes after improvements in the companies’ financial performance and is aimed at enhancing operational efficiency and achieving greater scale. Preliminary evaluations for the merger are currently underway, according to Business Today sources.