Nepal Re-insurance Company celebrates its fifth anniversary; the company to float IPO worth Rs.1.60 Arba in the coming months

Nepal Re-insurance Company Limited recently celebrated its fifth anniversary. The ceremony was inaugurated by the hands of the finance minister, Dr. Yuba Raj Khatiwada. On the occasion FM Khatiwada pointed out how the company has regulated the development of the insurance sector in Nepal. He also added that the company has played a major part in curbing the flow of savings outside the country. He further congratulated the management of the company on successfully reinsuring international companies.

On this occasion, the top executives of the company said that the purpose of the company is to reinforce the growth of insurance market in Nepal and to provide reinsurance services similar to international quality and standards. Further, they mentioned that the company is aiming to extend its services to a third country.

The company will come out with IPO for general public in a couple of months. The IPO is expected to be worth Rs.1.60 Arba. The current paid up capital of the company is at Rs.8.40 Arba with major shareholding of the government. The company had earned a profit of Rs.1.13 Arba in the previous year.