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Government to infuse $366 million into loss-making insurers

Posted On: Apr. 17, 2023 10:21 AM CST

India’s Finance Ministry is planning to infuse 30 billion Indian rupees ($366.5 million) of additional capital into loss-making public sector general insurers National Insurance Co. Ltd., Oriental Insurance Co. Ltd. and United India Insurance Co. Ltd. to improve their financial health, Business Standard reported. The capital infusion will be based on the performance of the insurers. In the financial year 2022, the government had injected INR50 billion into these three insurers.