Kathmandu: The logo of Prabhu Mahalakshmi Life Insurance Company has been made public today. Prabhu Life Insurance and Mahalaxmi Life Insurance are all set to commence integrated business under the name Prabhu Mahalaxmi Life Insurance.
The new logo carries the brand color of Prabhu Life while embodying the brand logo of Malaxmi Life inside the logo of Prabhu Life.
The joint merger committee, board of directors, and management committee of both companies have completed preparations for the company to carry out integrated business from 29 Asar 2080. These two companies received a final nod from the Nepal Insurance Authority to initiate an integrated business on 29 Jestha 2080.
It will be the fourth merger among life insurers in the history of the Nepalese insurance industry.
The integrated business institution will have 167 branch offices and 449 employees. After the distribution of the stock dividends bonus of Prabhu Life, the paid-up capital of the integrated will reach NPR 4.29 billion. The insurer will need to issue an additional 9 million shares to meet the minimum regulatory paid-up capital.
