CCEA gives approval for listing five GIC companies in stock exchanges

The Cabinet Committee on Economic Affairs (CCEA) has given in-principle approval for listing five government-owned General Insurance Companies in stock exchanges. 

Briefing media in New Delhi this afternoon after a Cabinet meeting, Finance Minister Arun Jaitley said, the listing will open way for the



companies to raise resources from the capital market to meet their fund requirements. He said, shareholding of these companies will be divested from 100 per cent to 75 per cent.

The companies are New India Assurance, United India Insurance, Oriental Insurance, National Insurance and General Insurance.