Chennai:
Insurance employees have threatened to go on strike if the government
would pass the Insurance laws (Amendment) Bill 2008 in the winter
session of the parliament.
Addressing a press conference here on Thursday, general secretary of
Chennai Region, General Insurance Employees’ Association T Srinivasan
said that increase in foreign direct investment limit in insurance
will lead to giving the foreign capital more space and access to the
savings of people.
The association, which is also also affiliated to All India Insurance
Employees Association, stated that the notion of huge FDI inflow into
the country by opening of insurance sector is untrue.
“As per the IRDA report on March 31, 2013, the FSI in 23 private life
insurance companies was Rs 6,045.91 crore and in 22 private general
insurance companies was Rs 1,586.63 crore,” he said.
He said the public insurance companies have played a key role in the
infrastructure and social sectors and the proposal to disinvest the
shares of the insurance companies will be against national interest.
He said that 31-member parliamentary standing committee on finance
headed by former Union Minister and comprising MPs from all major
political parties have submitted a report in 2011 against increasing
FDI limit in insurance sector.
Insurance employees have threatened to go on strike if the government
would pass the Insurance laws (Amendment) Bill 2008 in the winter
session of the parliament.
Addressing a press conference here on Thursday, general secretary of
Chennai Region, General Insurance Employees’ Association T Srinivasan
said that increase in foreign direct investment limit in insurance
will lead to giving the foreign capital more space and access to the
savings of people.
The association, which is also also affiliated to All India Insurance
Employees Association, stated that the notion of huge FDI inflow into
the country by opening of insurance sector is untrue.
“As per the IRDA report on March 31, 2013, the FSI in 23 private life
insurance companies was Rs 6,045.91 crore and in 22 private general
insurance companies was Rs 1,586.63 crore,” he said.
He said the public insurance companies have played a key role in the
infrastructure and social sectors and the proposal to disinvest the
shares of the insurance companies will be against national interest.
He said that 31-member parliamentary standing committee on finance
headed by former Union Minister and comprising MPs from all major
political parties have submitted a report in 2011 against increasing
FDI limit in insurance sector.
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