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The government hopes to reap 1.6 billion USD from the sale of insurance companies

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Magazine Issue: 
Stability versus profitability, the hard equation of emerging insurance markets [3]
Magazine date: 
Mar 2017

Indian authorities are hoping to obtain 1.6 billion USD from the partial sale of their equity shares in the capital of non life State-owned insurance companies. The exit procedure shall be started on April 1st , 2017.

In January 2017, the ministry of economy approved the 25% cession of the capital of New India Assurance, Untied India Assurance, Oriental Insurance, National Insurance and GIC. The State’s equity share in each of these companies will therefore be reduced to 75%.

According to the government’s plans, these cessions will be conducted to the advantage of the stock exchange market.

More news:

Fri, 14/04/2017 - 16:18

Source URL: https://www.atlas-mag.net/en/article/the-government-hopes-to-reap-16-billion-usd-from-the-sale-of-insurance-companies

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