Sun Nepal Life brings on board Shangrila Development Bank as another bancassurance partner; reiterates to issue IPO shares worth of Rs 60 crore

Sun Nepal Life Insurance and Shangrila Development Bank has signed an agreement of bancassurance following which the bank will be facilitating the sales of the life insurance policies and other insurance services of the insurance company through all its branches.

The agreement for the same was signed between Department head of the development bank Mr. Tej Bahadur Thakulla and Department head of the insurance company Mr. Binod Sharma Paudel amid a program.

The newly opened life insurance company has once again reiterated its earlier commitment to issue primary shares worth of Rs 60 crore to the general public to meet the requirement of Rs 2 arba set by the insurance board for the life insurance companies.