LIC Nepal tries to clear air in Nepalese media! Claims that LIC Nepal and LIC India are different entities based on two different laws

Life Insurance Corporation Nepal has released a media statement where it has rejected all the media reports about the LIC-India promoted insurance company that have been making rounds in some Nepalese media.

As per the media statement, LIC Nepal and LIC India are two different entities where LIC Nepal is established under all the legal frame and procedure of the Nepalese regulation. Similarly, the statement also mentioned that the life insurance company has all its reinsurance deal with Nepal Reinsurance Company and the situation of LIC India doesn’t and will not have any impact on the liability management of LIC Nepal.

Within 18 years of operation, the life insurance company currently has its presence via 74 branches in different parts of the nation, as per the media statement.