The companies are starting the joint transaction following their merger.
The merger proposal of the companies was approved by February 23. Similarly, Nepal Insurance Authority approved the merger on February 28 and SEBON approved the merger on March 7.
The joint entity has been renamed as Sagarmatha Lumbini Insurance with headquarter in ward no 1, Naxal, KMC.
The companies merged with a swap ratio of 1:8 of Sagarmatha Insurance and Lumbini General Insurance.
The paid-up capital of the company will reach Rs 2.62 billion.
