The Department of Financial Services has approved the Rs 12,000 crore capital infusion plan in the 3 state-run general insurance companies. The decision has been taken to boost their capital base and meet regulatory norms. The 3 state-run general insurance companies list includes National Insurance, Oriental Insurance and United India Insurance.
The recapitalisation will also improve their solvency ratio and prepare the 3 companies for the merger which will make the entity the largest insurance company in the country.
Source: The Economic Times
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