Finance Ministry will take a call on Rs 3,000 crore capital infusion this fiscal based on financial performance of three loss-making public sector general insurance companies.
According to sources, the finance ministry last year had asked these three insurers National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company -- to chase bottom line rather than topline and underwrite only good proposals.
The FY'23 financial numbers would give some idea about the impact of restructuring initiated on the profitability numbers and the solvency margin, sources said.
The solvency margin is the extra capital the companies must hold over and above the claim amounts they are likely to incur. It acts as a financial backup in extreme situations, enabling the company to settle all claims.
It is noted that the government last year provided Rs 5,000 crore capital to three insurers -National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company.
Diese Geschichte stammt aus der May 11, 2023-Ausgabe von Millennium Post Delhi.
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Diese Geschichte stammt aus der May 11, 2023-Ausgabe von Millennium Post Delhi.
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