Centre May Divest Stake in General Insurance Companies

The central government owns many general insurers and if officials are to be believed, the government may be looking at selling its stake in some of them, reports Sapna Das of CNBC-TV18. As per sources, the government plans to bring down stake in general insurance companies to 25% and it will initiate stake sale with 10% dilution. This stake sale is to be carried out in phases and the government plans to appoint advisors on it after getting the Cabinet's approval. Sources say that the Finance Ministry is in dialogue with government-owned general insurers with regards to this stake sale.