PVT INSURANCE COs MAY HAVE TO GO PUBLIC
Article Abstract:
The Government of India is soon to introduce a legislation making it mandatory for all licensed insurance companies to come out with public issues after a period of time. The Insurance Regulatory Authority Bill will define a private insurance company and the IRA is to have complete authority over the insurance sector. NRI, OCB and FII investments will be part of the issue capital to broad base the holding pattern and raise the equity capital. The Insurance Act 1938 will be amended and the IRA Bill will supersede any contrary clauses of the Act. (nr)
Comment:
The Government of India is soon to introduce a legislation making it mandatory for all licensed insurance companies to come out with public issues after a period of time.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BREATHING LIFE INTO INSURANCE SECTOR WITH COMPETITION
Article Abstract:
The Indian government proposes to push through a legislation to open the entire insurance sector to private Indian players. Thus the change is not restricted to the health and pension sectors alone. As a result of this, specialised health insurance companies may not come into being. The entry of private Indian corporates does not rule out foreign participation in the form of minority shareholders. This speeds up competition for Life Insurance Corporation of India (LIC) and the General Insurance Corporation (GIC). (uh)
Comment:
India: Govt proposes to push through a legislation to open entire lcoal insurance sector to private Indian players
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GIC STAFF REVAMP RUNS INTO TROUBLE
Article Abstract:
A section of the insurance agents in Chennai have obtained a high court stay order against the staff restructuring plans of General Insurance Corporation (GIC) to allow clerical staff to convert into marketing officers. The insurance agents state that they should be given priority in appointments for marketing officers. Sources say that about 8000 employees of GIC are interested in moving into marketing jobs. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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