The Cabinet Committee on Economic Affairs on Wednesday has given its green signal to go ahead with the listing of five public sector general insurance companies in the stock exchanges.
Finance Minister Arun Jaitley said that all the five state-owned general insurance companies – New India Assurance, Oriental Insurance, National Insurance, United India Insurance and national reinsurer General Insurance Company – will be listed on stock exchange.
However, Jaitley did not share any timeline of the listing of these entities.
This crisp move could expand investor appetite for the private segment insurer IPOs and will unlock huge amount of value for the government.
Jaitley today likewise said the credit guarantee trust's assets will be increased Rs 7,500 crore, ANI reported.
As of now, no insurance company is listed in the stock market.
