NITI Aayog recommends privatising United India Insurance Company

Core group to soon consider the proposal to privatise the insurer

The NITI Aayog has recommended privatisation of state-owned insurer United India Insurance Company as the government aims to move ahead with its new public sector enterprise (PSE) policy for Atmanirbhar Bharat.

The policy think tank has suggested that the public sector insurer be considered for privatisation in the banking, insurance and financial services sector, which has been classified as ‘strategic’ in the PSE policy, said an official. The policy proposes the “bare minimum” presence of government-owned companies in strategic sectors, and privatisation, merger or closure of remaining public sector undertakings (PSUs). The recommendation is in line with the anno­uncement made by