Sagarmatha Insurance and Lumbini General Insurance sign final merger agreement; Sagarmatha Lumbini Insurance Company to be formed in share swap ratio of 100: 80

Lumbini General Insurance and Sagarmatha Insurance signed a final merger agreement on Magh 17, 2079.

The merger agreement was signed between the Chairman of Lumbini General Insurance Mr. Manohar Das Mool and the Chairman of Sagarmatha Insurance Mr. Ram Krishna Manandhar.

The merged institution will bear the name Sagarmatha Lumbini Insurance Company. Shareholders of Lumbini General Insurance will receive 80 unit shares for every 100-unit shares of the new institution for their erstwhile Lumbini shares, as per the media statement. The final paid-up capital post-merger and the adjustment of the proposed bonus dividend of FY 78/79 will be Rs 2.62 Arba.