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Government considering 100 per cent FDI in insurance broking
22-Mar-2017 (09:41)
Paytm offers insurance cover for mobile wallets
21-Mar-2017 (09:33)
Insurance regulator IRDAI allows insurers to invest in REITs & InvITs
17-Mar-2017 (09:38)
SBI Life Insurance to take decision on stake dilution likely in Q1 of FY18
16-Mar-2017 (09:31)
GIC, New India Assurance to be listed before October
13-Mar-2017 (09:39)

The government is likely to list the two biggest of its five state-owned general insurers, namely General Insurance Corp (GIC), and New India Assurance (NIA), in the first half of FY18.

"The plan is for market debuts of the two largest unlisted insurers, GIC and NIA, before October 2017. Only after gauging the market response and appetite among investors will we prepare the listing of the other three insurers," said a senior government official.

The person said that listing of these insurers will be done through initial public offering of existing government equity and also through offering of fresh equity to ensure that eventually the centre complies with the Securities and Exchange Board of India's rule of not more than 75 per cent holding in listed state-owned companies.

The three other insurers which the finance ministry wants to list include National Insurance, Oriental Insurance and United India Insurance.

In January, the cabinet committee on economic affairs, headed by Prime Minister Narendra Modi approved the market listing of the five insurers.

They will not need fresh cabinet approval before hitting the bourses but will be cleared by a group of ministers consisting of Jaitley and transport minister Nitin Gadkari.

The total budgeted disinvestment target of Rs 72,500 crore for FY18 also includes Rs 11,000 crore, expected to come in from the five insurers.
LIC Visakhapatnam division tops south central zone
12-Mar-2017 (09:33)
IRDAI issued new norms for selling insurance online
12-Mar-2017 (09:27)
Insurance regulator IRDAI mulls segmented balance sheets
11-Mar-2017 (09:45)
LIC to step up income from non-single premium in FY18
10-Mar-2017 (09:33)
Insurance sector growing faster than Indian economy: says IRDAI
10-Mar-2017 (09:30)
Insurance regulator IRDAI clears different licences to new players
09-Mar-2017 (09:51)
SBI Life Insurance opens offices in MP, Chhattisgarh
06-Mar-2017 (15:07)
Ageas keen to raise stake to 49% in IDBI Federal Life Insurance
06-Mar-2017 (09:40)
HDFC Life launches life insurance chatbot with Haptik
02-Mar-2017 (18:52)
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