Centre may speed up stake dilution in GIC Re, New India Assurance

The Union finance ministry is planning to dilute at least half of the required stake in general insurance companies such as New India Assurance Company and General Insurance Corporation of India (GIC Re) in 2025-26 (FY26) to ensure compliance with the minimum public shareholding (MPS) norms mandated by the Securities and Exchange Board of India (Sebi), according to a senior government official.

 

As of now, the government holds 85.44 per cent in New India Assurance and 82.4 per cent in GIC Re. Sebi mandates all listed companies, including public sector insurers, to maintain a minimum of 25 per cent public