NB Insurance rebranded to IME General Insurance

NB Insurance Company Limited (NBIL) has changed its name into IME General Insurance Company Limited from yesterday (Mangsir 7, 2074). The 20^th Annual General Meeting of the insurance company held on Ashwin 10, 2074 had proposed to change the name of the insurance company and the Insurance Board approved the proposal on Bhadra 14, 2074. The company’s registrar office decision on Kartik 8, 2074 declared that from now on wards all the assets and liabilities of NB Insurance will be realized under the name of IME General Insurance Company Limited. After being declared crisis-ridden by the Insurance Board for failing to abide its directions, IME Group and Hathway Investment had together bought 45.50% shares of the troubled NB Insurance, after which the company came into operation completing the necessary processes NB Insurance has earned Rs 2.55 crore in the first quarter of the current fiscal year 2074/75. It’s paid up capital stands at Rs 54 crore and after the issuance of 80 percent right share its capital will reach Rs 97.20 crore. Thus to meet the capital requirement of Rs 1 arba, it should hike its capital by Rs 2.8 crore (around 2.88%).