Nepal Insurance Authority approved the merger on May 16 while Company Registrar Office approved the merger on May 22 and SEBON approved the merger on May 23.
United and Ajod Insurance merged with each other with a swap ratio of 100:82.5. currently, United has paid-up capital of Rs 1.07 billion and Ajod Has Paid-up capital of Rs 1 billion. Collectively, the joint entity has a paid-up capital of Rs 1.97 billion.
The joint entity is chaired by Ajad Shrestha and is appointing SK Rawal as CEO.
