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Oriental Insurance pegs capital need of around Rs 3000 crore in FY21

The actual growth plan would be finalized on the basis of capital support the insurer gets from the government

insurance
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Namrata Acharya Kolkata
Public sector general insurance firm Oriental Insurance Company might need close to Rs 3,000 crore worth capital infusion to fund its growth plans in 2020-21.

According to A V Girijakumar, Chairman-cum-Managing Director, Oriental Insurance Company, the capital would be needed to fund growth plans and maintain solvency ratio.

However, the actual growth plan would be finalized on the basis of capital support the insurer gets from the government.

The company’s board is slated to meet on March 18 to examine the budget for growth in the coming fiscal.

“While we may require a capital in the vicinity of Rs 3,000

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First Published: Feb 28 2020 | 7:12 PM IST

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