India approves listing of 5 state-owned insurers
Friday, 01 20 2017, Category: Insurance and Reinsurance, Country: India
India’s Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has given its ‘in principle’ approval for listing five government-owned general insurers.
The shareholding of these Public Sector General Insurance Companies will be divested from 100 percent to 75 percent in one or more tranches over a period of time.
The stock exchange listing will open the way for the companies to raise resources from the capital market to meet their funding requirements to expand their businesses and will improve transparency, disclosure, risk management and corporate governance.
Source: Intelligent Insurer