GIC, NIA to be listed before October

The government is likely to list the two biggest of its five state-owned general insurers, namely General Insurance Corp (GIC), and New India Assurance (NIA), in the first half of FY18. 

The centre expects good valuation on them once they make their market debut and will firm up plans for listing other insurers based only on the response from investors, Business Standard has learnt.

The three other insurers which the finance ministry wants to list include National Insurance, Oriental Insurance and United India Insurance.

“The plan is for market debuts of the two largest unlisted insurers, GIC and NIA, before October 2017. Only