Five general insurance companies to be listed in the stock market: Finance Minister Arun Jaitley

NEW DELHI: The Cabinet Committee on Economic Affairs has given its go-ahead for the listing of shares of five general insurance companies in the stock market, Finance Minister Arun Jaitley said today at a Cabinet briefing. The five companies are New India Assurance, United India Insurance, Oriental Insurance, National Insurance, and General Insurance Corporation of India. The listing is expected to help these companies raise resources from the capital market to meet fund requirements. The government's holdings in these companies will be brought down to 75 per cent from 100 per cent through the offer of shares in one or more tranches. With regard to the Ministry of Micro, Small and Medium Enterprises, Jaitley said the assets of the credit guarantee trust will be increased to Rs 7,500 crore from Rs 2500, to improve the funding sources.