Neco Insurance Limited and Premier Insurance Company (Nepal) Limited have decided to merge.
The two companies signed a memorandum of understanding for the merger on Friday, according to the officials of both the companies.
This is the first merger process between any two insurance companies in Nepal.
Following the MoU, both the insurance companies have even filed an application for the LOI at the Insurance Board on Sunday.
Nepal Stock Exchange Limited (NEPSE) has suspended the trading of the shares of both the companies from Sunday due to the merger process.
The officials of both the companies have said that their capital base as well as all other financial and organizational aspects will be better after the merger.
-sharesansar
The two companies signed a memorandum of understanding for the merger on Friday, according to the officials of both the companies.
This is the first merger process between any two insurance companies in Nepal.
Following the MoU, both the insurance companies have even filed an application for the LOI at the Insurance Board on Sunday.
Nepal Stock Exchange Limited (NEPSE) has suspended the trading of the shares of both the companies from Sunday due to the merger process.
The officials of both the companies have said that their capital base as well as all other financial and organizational aspects will be better after the merger.
-sharesansar
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