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Tuesday, Nov 27, 2007
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States - Maharashtra
Call for merger of PSU insurance companies

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Kochi, Nov. 26 The members of the All India Insurance Employees Association (AIIEA) have launched a campaign for merger of the four public sector general insurance companies into a single corporation.

Addressing a study camp organised by the Kerala State General Insurance Employees Union, Mr J. Gurumurthy, Secretary, All India Insurance Employees Association said that there is an urgent need to consolidate the four companies through merger and to create a monolithic corporation similar to LIC.

The business interests and the social objectives could be well served by the public sector through this merger, he said. The AIIEA had already launched a campaign in this regard and the cadres of the association are also meeting MPs and MLAs of all political parties to garner their support.

More Stories on : General Insurance | Mergers & Acquisitions | Maharashtra

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