{"id":77868,"date":"2022-12-15T12:30:00","date_gmt":"2022-12-15T07:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=77868"},"modified":"2022-12-15T12:27:59","modified_gmt":"2022-12-15T06:57:59","slug":"insurance-stock-jumps-10-as-govt-plans-to-merge-4-psu-insurance-companies-into-lic","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/insurance-stock-jumps-10-as-govt-plans-to-merge-4-psu-insurance-companies-into-lic\/","title":{"rendered":"Insurance stock jumps 10% as Govt plans to merge 4 PSU insurance companies into LIC"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1692662189\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of General Insurance Corporation of India Ltd. (GIC Re) rallied 10% on the bourses today to hit their day\u2019s high of Rs 175.90. The stock has gone up over 20% in the previous two trading sessions. The six-month performance has been impressive as well. It has generated an attractive return of 57% for its investors during the period.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1358903581\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/GICRE\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">General Insurance Corp<\/a><\/strong>. is a central public sector company under the Ministry of Finance, Government of India. It was incorporated in November 1972 and is the largest reinsurance company with a 64% market share. The rise in the share price of GIC Re comes on the back of the Central government mulling over a possible merger of the four public sector general insurance companies with the Life Insurance Corporation (LIC) of India.\u00a0<\/p><p>A senior insurance industry commented, \u201cFinance Minister Nirmala Sitharaman had earlier announced that in the case of strategic sectors, there can be four public sector units and in the case of non-strategic sectors, there will be only one government-owned unit.\u201d The official further noted, \u201cIn line with that announcement, the government can merge its four non-life insurance companies with LIC.\u201d<\/p><p>A report highlighted that the employee unions in the four government-owned general insurance companies have been pressing for the merger. The unions are from The Oriental Insurance Company Limited, National Insurance Company Limited, The New India Assurance Company Limited, and United India Insurance Company Limited.<\/p><div class=\"trade-content_5\" id=\"trade-3351961592\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>General Insurance Corporation of India (GIC Re), ECGC, and Agriculture Insurance Company of India are other insurance companies owned by the government. Some time back the government had announced that it would likely merge Oriental Insurance, National Insurance, and United India. However, the idea was tabled and no development was made on that front.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Written by Vikalp Mishra<\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3917264348\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of General Insurance Corporation of India Ltd. (GIC Re) rallied 10% on the bourses today to hit their day\u2019s high of Rs 175.90. The stock has gone up over 20% in the previous two trading sessions. The six-month performance has been impressive as well. It has generated an attractive return of 57% for [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[3912,5213,3153,4178,4183,3157,3158],"class_list":["post-77868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-multibagger-stock-to-watch","tag-small-cap-stock-to-watch","tag-stock-to-buy","tag-stock-to-buy-in-2022","tag-stock-to-trade","tag-stock-to-watch","tag-stock-to-watch-in-2022"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insurance stock jumps 10% as Govt plans to merge 4 PSU insurance companies into LIC - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=77868\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insurance stock jumps 10% as Govt plans to merge 4 PSU insurance companies into LIC\" \/>\n<meta property=\"og:description\" content=\"The shares of General Insurance Corporation of India Ltd. (GIC Re) rallied 10% on the bourses today to hit their day\u2019s high of Rs 175.90. The stock has gone up over 20% in the previous two trading sessions. The six-month performance has been impressive as well. 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