Union Budget 2016-17: Jaitley proposes listing of PSU general insurance companies

Finance Minister Arun Jaitley today proposed listing of four wholly-owned PSU general insurance companies.

"...(proposed to) undertaking important banking sector reform and public listing of public sector general insurance and undertaking significant changes in FDI policy," he said while unveiling Budget 2016-17 in Lok Sabha.

There are four public sector general insurance companies -- New India Assurance Company Ltd, National Insurance Company Ltd, Oriental Insurance Co Ltd, United India Insurance Co Ltd.

Besides, there are two specialised insurers -- ECGC and AIC -- one life insurance insurer, LIC.