PSU general insurance companies seek capital infusion prior to merger

Public sector general insurance companies, that are slated to be merged, have sought fund infusion from the central authorities earlier than the amalgamation.

According to high officers of two of the general public sector general insurance corporations, the companies, of their communication to the division of economic services, have highlighted the necessity for imminent recapitalisation to keep the regulatory solvency ratio and wipe out losses. According to tough estimates, the necessity is no less than Rs 2,000-3,000 crore in every of the companies, the whole collective requirement is shut to Rs …

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