Biggest merger in insurance sector of Nepal concludes; Himalayan Life Insurance begins joint transaction with over 8 arba paid-up capital
Thu, May 11, 2023 9:45 AM on Latest, Corporate, Merger/Acquistion,
Himalayan Life Insurance, which was formed after the biggest merger in the insurance sector of Nepal between then Prime Life Insurance, Gurans Life Insurance, and Union Life Insurance, has begun the joint operation from Baisakh 26, 2080.
The joint transaction was kickstarted by the chairman of Beema Samiti Mr. Surya Prasad Silwal. Chairman of the insurance company Mr. Sulav Agrawal has also received his oath of designation from Beema Samiti chairman Mr. Silwal amid a separate event, as per the media statement.
Following the merger, Himalayan Life Insurance becomes the 2nd largest insurance company in terms of paid-up capital, 4th largest in life insurance fund, and the largest in terms of branch network, number of agents, and employees.
The company has a paid-up capital of Rs 8.02 arba, Rs 90 crore in reserve fund, Rs 50.11 arba in life insurance fund, Rs 33.10 arba in natural disaster fund, investment of Rs 9.68 arba, raised insurance premium of Rs 78.76 arba, settled claims of Rs 15.19 arba so far, as per the media statement.
