Kathmandu, August 11
Two leading insurance companies in the country have decided to merge in their efforts to emerge as the biggest insurance company in Nepal.
Sagarmatha Insurance Company and Himalayan General Insurance have decided to be one as soon as possible.
This will be the first merger in the country’s insurance industry.
Currently, Sagarmatha’s paid-up capital value is Rs 1.001 billion whereas Himalayan is worth Rs 1.068 billion. Hence, the new company is certain to be the biggest insurance company in the country once they merge.
Most of the customers of Sagarmatha are retail customers whereas Himalayan is strong in the corporate sector.
Sources say the name of the unified company among other technicalities is yet to be finalised although the two agreed on the merger.
