Sunday, March 16, 2025 | 02:57 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

NIC board approves merger proposal with two other insurers:

Image

Press Trust of India Kolkata

State-owned non-life insurer National Insurance Company Ltd has approved its merger with Oriental Insurance Company Ltd and United India Insurance Company Ltd, trade union officials said on Monday.

A hurriedly-convened board meeting of NIC in the evening ratified the merger proposal, they said.

"The board met today and cleared it. The board also discussed about operational integration," West Bengal State General Insurance Employees Association general secretary Tapan Mitra told PTI.

Attempts to contact NIC officials did not materialise.

The boards of Oriental Insurance Company and United India Insurance Company have already given their nod to the merger.

The General Insurers' Public Sector Association (India) is also likely to approve the amalgamation, the trade union officials said.

 

"The unions have been seeking the merger of four PSU general insurance companies, imcluding the New India Assurance Co," Mitra said.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 20 2020 | 10:35 PM IST

Explore News