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Home News News and Press Release Month 2 2020 2020 (2) This
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Cabinet approves proposal for capital infusion for OICL, NICL and UIICL

February 12, 2020
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The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its in principle approval for capital infusion for three Public Sector General Insurance Companies, namely, Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL).

In view of the above, Cabinet has allowed immediate release of ₹ 2500 Crore in the light of the critical financial position and breach of regulatory solvency requirements of 3 PSGICs viz. OICL, NICL and UIICL.

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