Asian Life Insurance (ALICL) Now Effectively Owns Wealth Management and Merchant Banking With 51% Stake in the Company

Asian Life Insurance Company Limited (ALICL) has invested 51 percent in Wealth Management and Merchant Banking. Wealth Management and Merchant Banking and the insurance company have reached an agreement on share investment in a program held on Monday.

The share investment agreement has been signed by the Chief Executive Officer of Asian Life Insurance Dinesh Lal Shrestha and Chairman Sachin Silwal on behalf of Wealth Management.

After the agreement, Asian Life Insurance will have a 51 percent stake in Wealth Management and Merchant Banking Limited, thus effectively owning it. The company Wealth Management is currently working on Investment Management and Depository Services (DP) and will provide other merchant banking services in the future with the approval of regulators, the company said.