Merger of three insurers put on halt

The Indian government has interrupted the plans to merge the three state-owned insurance companies: National Insurance, Oriental Insurance and United India Insurance.

This is mainly due to the current health situation, deemed unsafe for such an operation. Despite the decision, the government will still inject 124.5 billion INR (1.65 billion USD) into the three companies to improve their financial base.

The funds will be injected through a capital increase in the three public insurance companies.