Three Indian carriers could be merged pre-IPO: report

Three state-owned Indian non-life insurers may be merged to
create a stronger company which would fetch a higher valuation in
an IPO, according to India's Economic Times.
Oriental Insurance, National Insurance and United India
Insurance have a combined market share of 34 percent and together
write direct premiums of over 33,000 crore rupees ($4.9bn).
The three firms were among five state-owned carriers to be
grantedin-principle approval from the Indian government to go public.A senior finance mi