Merger of three state-owned general insurers on back burner due to Covid-19

Notably, the boards of the three firms had approved the merger in January and had appointed management consultant firm EY to chalk the road map for the exercise last year

The Centre’s plan to merge the three ailing state-owned general insurers — National Insurance Company, Oriental Insurance Company, and United India Insurance Company — and subsequently 

list the merged entity, has been put on hold.

According to people in the know, preparations for the merger have taken a back seat in the past two months, with the government’s attention shifting towards the Covid-19 pandemic.

“There has been no movement on the merger. There has been no communication from the government, and we have also not heard from consultants. 
 

However, the board has already approved the merger. Given the current situation,