Know the promoter and public holdings of Insurance companies; Many Insurance company can still issue FPO

Recently there is trend of issuing FPO among insurance companies. Shikhar Insurance recently issued FPO to the general public and Nepal Life Insurance FPO is on the pipeline and there is a rumor that many insurances is issuing FPO for general public in near future. There is a clear provision that after issuing FPO promoter holding must be minimum 51%. So if the  promoter holding of the company issuing FPO is 51%, then it became almost impossible for the companies to issue FPO. There are many companies whose promoter share holding is still above the majority. At present  we have 9 Life-Insurance Companies in Nepal out of which 7 are being traded at Nepal Stock Exchange Limited (Nepse). Let's check the promoter and public holdings of life and non life insurance companies. MetLife Insurance Company Limited and Rastriya Beema Sansthan Limited are not traded at Nepal Stock Exchange Limited. Out of seven life insurance company being traded, two  life insurance company promoter: public shareholder ratio stands at 80:20. Nepal Life Insurance Company Limited (NLIC) will be issuing Further Public Offering (FPO)to maintain public:promoter shareholder ratio at 70:30. Life Insurance Corporation (Nepal) Limited (LICN) also has its promoter: public shareholder ratio at 80:20. Life Insurance Corporation Nepal is a joint venture between Life Insurance Corporation of India, which holds 55% and Vishal Group of Nepal which holds 25% and the general public holds 20% in the company. There are 17 Non-Life Insurance company out of which 15 are currently being traded at Nepal Stock Exchange Limited (NEPSE). National Insurance Company Limited and Oriental Insurance Company Limited are not traded at Nepse. Everest Insurance Limited  (EIC) has 100% public shares. The Himalayan General Insurance Company Limited (HGI) Promoter and Public ratio are 60:40. Lumbini General Insurance Company Limited (LGIL) has its promoter:public shareholder ratio at 80:20. There are 5 institutional promoters of the company and they are Lumbini Finance, Central Finance, Narayani Finance and Paschimanchal Finance and Himalayan trade Company private limited. National life Insurance Company Limited (NLICL) has 50% ownership in NLG Insurance company Limited (NLG). The public shareholders are divided as general public B and C. The promoter and public shareholder ratio at Nepal Insurance Company Limited (NICL) is at 60:40 and recently the Nepal bank has  sold the more than 10 Lakh units promoter shares of Nepal Insurance  of in auction. Neco Insurance Company Limited (NIL) promoter and public ratio is 60:40 and 60% out of this 59 percent promoter are institutional promoter and Rastriya Banijya Bank (RBB) hold on 20 percent promoter share. Promoter  shareholders of Sagarmatha Insurance Company Limited (SIC) hold 60% of the company,20% of the company is held by Ceylinco Insurance which is a joint venture company of Sagarmatha Insurance. Remaining  20% is held by the general public. Ceylinco Insurance PLC is Leading Insurance Company in Sri Lanka, who is internationally recognized as an Insurance industry leader in product innovation and was placed within the top four General Insurance Companies in Asia. Shikhar Insurance Company Limited (SICL) promoter and public shareholder  ratio stand at 70:30 after the FPO. Siddhartha Insurance Limited  (SIL) has  60% promoter share 15% shares of Siddhartha Insurance belong to Siddhartha Bank Limited (SBL) and the remaining 25 percent share is held by the general public. United Insurance Company (Nepal) Limited (UIC) promoter: public shareholder ratio is at 60:40 The company is promoted by leading industrialists and reputed trading and commercial houses of Nepal. United insurance major industrial  promoter is Chaudhary Group. Prakash Ghimire Priyanka Jha ShareSansar.com