New Delhi, June 24 -- With its plans on consolidation in the insurance sector hitting several hurdles, the government has started exploring different options including de-merging three of its big-size general insurance companies into smaller units and then look at strategic sale of few operations to the private sector.
The Finance Ministry earlier considered merging three public sector general insurance firms -- National Insurance Company, United India Insurance Company and Oriental India Insurance Company barring New India Assurance -- to create one large and strong entity.
Official sources said that de-merger plan has now been brought to the table after a series of stakeholders meetings and this has now become one of the options before ...