The General Insurance Employees All India Association has demanded a monolithic corporation by merging the existing four general insurance companies.
General Insurance Employees all India conference which was held here recently has adopted a resolution demanding the government to go back to one entitity by amalgamating all the four public sector general insurance companies like National Insurance, Oriental Insurance, New India Assurance and United India Insurance, Vice President P K Dharamtok said.
The conference also demanded that Government should not increase foreign direct investment (FDI) from 26 percent to 49 percent in private sector insurance companies as it is not in the national and public interest, Dharamtok said in a release today.
It also opposed outsourcing of work in four PSU general insurance companies which might affect the new recruitment.