According to the latest reports the government is considering United India Insurance as one of the state-run insurers for privatization. Apart from this, the other public sector insurers could also be taken up for privatization. The names mainly include National Insurance or Oriental Insurance, as per the information.
According to the sources, “United India Insurance is one of the top choices for privatization. Discussions are on, with the other options being National Insurance or Oriental Insurance.”
Since this process of privatization will take some time, including legislative amendments, any move towards privatization and divestment of public sector insurers is likely to happen in the second half of the fiscal year.
