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International

India seeks $826 million to shore up three insurers' solvency

December 12, 2018 Reprints

India's Department of Financial Services is seeking a capital infusion of 60 billion Indian rupees ($826 million) in three government-owned nonlife insurers to strengthen their solvency, Middle East Insurance Review reported citing sources. The three insurers – The Oriental Insurance Co. Ltd., National Insurance Co. Ltd. and United India Insurance Co. Ltd. – will be merged and listed as a mega entity. The minimum required solvency ratio is 1.5.

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India seeks $826 million to shore up three insurers' solvency

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