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Govt to Privatise United India Insurance

Published on May 07, 2022
Current Context: The Government of India is considering to Privatise United India Insurance Ltd.
Govt to Privatise United India Insurance
  • Out of three general insurers, the government of India is considering to Privatise the United India Insurance. The task of identification of such government entities for disinvestment is entrusted to NITI AAYOG.
  • The government has infused 100 crore rupees into United Insurance this fiscal to improve the health of the insurer. The insurance company had reported a net loss of 1,485 crore rupees in 2019-20.
  • The task of disinvestment is carried out by DIPAM, which is under the Ministry of Finance.

Question:

Q.1 Which Government insurance entity is to be privatized by the government, following NITI Aayog's recommendation?
a. United India insurance

b. New Assurance Ltd
c. Life insurance corporation
d. None of the above
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