New Delhi, Feb. 13 -- Public sector general insurance companies that have historically reported losses, witnessed a major turnaround with all of them becoming profitable again, the finance ministry said in a statement on Thursday.

While Oriental Insurance Co. Ltd (OICL) and National Insurance Co. Ltd (NICL) started posting quarterly profits from Q4 of FY24 and Q2 of FY25 respectively, United India Insurance Co. Ltd (UIICL) posted profit in Q3 of FY25 after a gap of 7 years. Notably, New India Assurance Co. Ltd (NIACL) has consistently maintained its position as a market leader and has been making profits regularly.

The government has been committed to creating strong and competitive public sector general insurance companies and introduc...