The merger of three Indian public insurers postponed to 2019/2020

The merger of three State-owned insurers, National Insurance, Oriental Insurance and United India Insurance, initially planned in the first quarter of the 2018/2019 fiscal year, has been delayed to the next year. This resolution will make it possible for the companies considered to improve their level of solvency.

The pooled entity will be estimated at more than 1 000 billion INR (15.24 billion USD), which makes it the most important merger ever achieved in the insurance sector in India.

The total number of staff members of the three companies combined is estimated at 50 000 employees. A 10% to 20% staff reduction plan is on the agenda once the operation comes to be finalized.

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