Mergers & Acquisitions Of Insurance Companies In Nepal
September 7, 2023 | Investopaper
With the directive of Nepal Insurance Authority to increase the minimum paid-up capital of life insurance companies to Rs 5 billion and non-life insurance companies to Rs 2.5 billion, several insurance companies have undergone merger/acquisition in order to meet the minimum capital requirement.
As of Ashad’s end 2080 BS, there are 14 non-life or general insurance companies and 14 life insurance companies operating in Nepal. So far, 10 non-life insurance companies have successfully completed merger to form 5 new insurance companies. Likewise, 9 life insurance companies have merged and commenced joint operation in the name of 4 new life insurance companies.
The table below presents the list of the companies which have successfully merged and started integrated transaction.
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Mergers/Acquisitions Of Non-Life Insurance Companies
| S.N. | Non-Life Insurance Companies | Merger/Acquisition | Name Of Company After Merger/Acquisition |
| 1 | Ajod Insurance Limited and United Insurance Company (Nepal) Limited. | Merger | United Ajod Insurance Limited |
| 2 | Sanima General Insurance Limited and General Insurance Company Nepal Limited | Merger | Sanima GIC Insurance Limited |
| 3 | Sagarmatha Insurance Company Limited and Lumbini General Insurance Limited | Merger | Sagarmatha Lumbini Insurance Company Limited |
| 4 | Siddhartha Insurance Limited and Premier Insurance Company (Nepal) Limited | Merger | Siddhartha Premier Insurance Limited |
| 5 | Everest Insurance Company Limited and Himalayan General Insurance Company Limited | Merger | Himalayan Everest Insurance Limited |
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Mergers/Acquisitions Of Life Insurance Companies
| S.N. | Life Insurance Companies | Merger/Acquisition | Name Of Company After Merger/Acquisition |
| 1 | Prabhu Life Insurance Limited and Mahalaxmi Life Insurance Company Limited | Merger | Prabhu Mahalaxmi Life Insurance Company Limited |
| 2 | Sanima Life Insurance Company Limited and Reliance Life Insurance Limited | Merger | Sanima Reliance Life Insurance Limited |
| 3 | Surya Life Insurance Company Limited and Jyoti Life Insurance Company Limited | Merger | SuryaJyoti Life Insurance Company Limited |
| 4 | Gurans Life Insurance Company Limited, Union Life Insurance Company Limited and Prime Life Insurance Company Limited | Merger | Himalayan Life Insurance Limited |
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