Sanima Life and Reliance Life Get Final Nod from Authority for Merger

Kathmandu: Sanima Life Insurance and Reliance Life Insurance received a final nod for the merger. These two insurers, which are in the process of a merger, received the final approval from Nepal Insurance Authority on Thursday.

“We have received the final nod from the Authority,” said Gunraj Shrestha, spokesperson of Sanima Life Insurance.

These two insurers signed an initial memorandum of understanding on Asar 29 for the merger. The two companies agreed to merge with a swap ratio of 1:1.

The special agenda to merge with each other has been approved by the general meeting of both companies held on Falgun 12,2079.

Currently, the paid-up capital of Sanima Life and Reliance Life is Rs. 2 billion and Rs. 2.1 billion respectively.

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