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  2. irdai.gov.in › evolution-of-insuranceEvolution of Insurance - IRDAI

    In 1972 with the passing of the General Insurance Business (Nationalisation) Act, general insurance business was nationalized with effect from 1st January, 1973. 107 insurers were amalgamated and grouped into four companies, namely National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd and the ...

  3. en.wikipedia.org › wiki › General_InsuranceGeneral Insurance Corporation of India - Wikipedia

    The business of general insurance was nationalised through The General Insurance (Emergency) Provisions Ordinance promulgated on 13 May 1971 and thereby the business being carried on by 107 entities was consolidated and restructured into four companies namely The New India Assurance Company Limited, Bombay, United India Fire & General Insurance ...

  4. www.legalserviceindia.com › legal › article-8414Evolution of General Insurance in India - Legal Service India

    The General Insurance Business in India was nationalized by the General Insurance Business (Nationalization) Act in 1972 (GIBNA). The Government of India through the nationalization scheme bought 55 shares of the 55 Indian Insurance companies along with the undertakings of 52 insurers carrying on general Insurance business.

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  6. prsindia.org › billtrack › the-general-insuranceThe General Insurance Business (Nationalisation) Amendment ...

    Jul 30, 2021 · The 1972 Act set up the General Insurance Corporation of India (GIC). The businesses of the companies nationalised under the Act were restructured in four subsidiary companies of GIC: (i) National Insurance, (ii) New India Assurance, (iii) Oriental Insurance, and (iv) United India Insurance.

  7. irdai.gov.in › documents › 37343Reference No.:IRDA/GEN/06/2007 Date:31/07/2020

    In 1972 with the passing of the General Insurance Business (Nationalisation) Act, general insurance business was nationalized with effect from 1st January, 1973. 107 insurers were amalgamated and grouped into four companies, namely National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd and the U...

  8. financialservices.gov.in › beta › enThe General Insurance Business (Nationalisation) Act, 1972

    The General Insurance Business (Nationalisation) Act, 1972 | Department of Financial Services | Ministry of Finance | Government of India.

  9. www.mcolegals.in › kb › The_General_InsuranceANALYSING THE GENERAL INSURANCE BUSINESS

    The General Insurance Business (Nationalization) Act, 1972 (the said Act) was enacted for nationalization of the general insurance businesses in India. It provided for the pattern and procedure for transfer and acquisi-tion of shares in the Indian insurance companies.