Monday, August 15, 2022
Home > oriental insurance

CAG report: PSU general insurers logged ₹26k cr loss between FY17 & FY21

All four public sector general insurers posted an aggregate loss of ₹26,364 crore between 2016-17 and 2020-21, according to an audit report by the Comptroller and Auditor General of India (CAG). The losses of health insurance business of PSU insurers either wiped out or decreased profits of other lines of

Read More

Centre infuses ₹5,000 crore into 3 state-run insurance companies

The Centre has raised the authorised capital of three public sector insurance companies - Oriental Insurance Company Limited (OICL), National Insurance Co. Ltd. (NICL) and United India Insurance Co. Ltd. (UICL) - to enable subscription of capital. Officials said authorised share capital of entities is increased from time to time

Read More

Irdai red-flags one chairman for 2 insurers

The insurance regulator has raised corporate governance concerns over the government's move to appoint one person as chairman of two state-run insurers. The government had sought Insurance Regulatory and Development Authority of India's (Irdai) approval to appoint Anjan Dey as acting chairman of New India Assurance, a charge he already

Read More

Finance Ministry to infuse Rs 3,000 crore in general insurance companies this quarter

NEW DELHI: The Finance Ministry will infuse Rs 3,000 crore capital into state-owned general insurance companies during the current quarter in a bid to improve their financial health. Last year, the Union Cabinet headed by Prime Minister Narendra Modi cleared proposal to provide capital support to National Insurance, Oriental

Read More