Merger agreement between Sanima Life and Reliance Life
The agreement was signed by the chairpersons of the two companies at a ceremony held at the Hotel Marriott in Kathmandu.
KATHMANDU: A merger agreement was signed between Sanima Life Insurance Company and Reliance Life Insurance Company on Wednesday.
The agreement was signed by the chairpersons of the two companies at a ceremony held at the Hotel Marriott in Kathmandu.
The agreement was signed by Ghanshyam Thapa, Director of Sanima Life Insurance Company, and Bharat Kumar Todi, Director of Reliance Life Insurance Company. In which case the swap ratio will be 1: 1.
The combined paid-up capital of the two companies will be Rs 4.10 billion. Sanima Life currently has a paid-up capital of Rs 2 billion, while Reliance Life has a paid-up capital of Rs 2.10 billion.
Sanima Life has a life insurance fund reserve of Rs 3 billion 131 million, while Reliance Life has a reserve of Rs 3.67 billion 11 million. The total insurance fund will be worth more than Rs. 6.8 billion.
