Merger between three Nepalese life insurers

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merger insurersPrime Life Insurance, Gurans Life Insurance and Union Life Insurance have finalized their merger project.

Named Himalayan Life Insurance, the merged entity, which officially started its activities in May 2023, has a paid-up capital of 7 billion NPR (52.5 million USD).

This operation is in line with the Nepal Insurance Authority's (NIA) decision to raise the minimum capital of Nepalese insurance companies.

Life insurers must have a minimum capital of 5 billion NPR (37.5 million USD) against 2 billion NPR (15 million USD) for non-life entities.

The Nepalese market has witnessed several mergers between insurance companies in 2022, including:

  • Surya Life Insurance and Jyoti Life Insurance
  • Himalayan General Insurance and Everest Insurance
  • Sanima General Insurance and General Insurance Company
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Mon, 22/05/2023 - 09:43
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