Indian public banks trim stakes in insurers
Posted On: Sep. 6, 2018 5:12 AM CSTPublic sector banks in India are trimming their stakes in insurers as they look to unlock capital, Money Control reports. Insurers are non-core assets and provide good monetization opportunity, but the banks need core assets like good quality loans. Indian Overseas Bank and Allahabad Bank are reportedly looking to exit joint venture Universal Sompo General Insurance Co. Ltd.