The long-discussed merger of state-owned general insurance companies — National Insurance, Oriental Insurance, and United India Insurance — has hit a bureaucratic stalemate. Officials familiar with the matter said divisions within the finance ministry have slowed progress, with concerns over valuation, capital infusion, and operational integration. While the government continues its preliminary assessment, no concrete execution plan or timeline has been drawn up. According to people aware of internal deliberations, resistance from entrenched bureaucratic structures within the insurance sector has further complicated consolidation efforts. Some officials believe a merger might not address underlying inefficiencies, including high claim ratios and weak balance sheets. The proposal, first revived in 2018-19 as part of a broader reform agenda, has resurfaced periodically but remains mired in uncertainty as differing views persist across departments.