Financial Daily from THE HINDU group of publications
Monday, Jan 30, 2006


News
Features
Stocks
Shipping
Archives
Google

Group Sites

Money & Banking - Trade & Labour Unions


Union wants merger of PSU general insurers

Our Bureau

Kochi , Jan. 29

IN order to avoid unhealthy competition among the four public sector general insurance companies and to provide the best of services to the customer, the General Insurance Employees Union (GIEU) has demanded that the United India Insurance Company, New India Assurance Company, Oriental Insurance and National Insurance be merged to form a powerful, single monolithic corporation.

The GIEU has also opposed moves to raise FDI in general insurance industry from 26 per cent to 49 per cent.

If this proposal is allowed, it will enable foreign insurers to acquire control over the management of the company and absolute control at the end of the stipulated period of 10 years, Mr N.D. Sundaresan, General Secretary, GIEU said.

More Stories on : Trade & Labour Unions

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Western Union to expand network


RBI move to outsource rural banking flayed
ICAI mounts pressure on Govt to scrap order on bank auditors
Governor's survey of macroeconomy — India must be on guard
Karnataka Bank Q3 net up at Rs 42 cr
Sankat Haran policy only on IFFCO, IPL products
IRDA seeks review of health cover products
Dena Bank in pact with SMERA
Rising crude, changed outlook on rates pull down bonds
Control rooms in pipeline to settle credit card disputes
Union wants merger of PSU general insurers


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line