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Govt to unveil plan to boost PSU general insurers
The government had proposed a ₹4,950-crore capital infusion in state-run general insurers in the third supplementary demand of grants earlier this month.
The government is soon likely to announce a plan to strengthen state-run general insurance firms, including details of the capital infusion of about ₹5,000 crore that it has already approved.
"An announcement to this effect is expected within this month," said a government official in the know.
Three of the four public sector general insurance companies are loss-making.
The focus of the plan is expected to be primarily on their loss-making portfolios and improvement in claim management, the official said. Aggressive pricing battles among the four state-run insurers will likely be discouraged.
The government had proposed a ₹4,950-crore capital infusion in state-run general insurers in the third supplementary demand of grants earlier this month.
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