1st AGM of Nepal Reinsurance conducted; in process of issuing IPO

November 8, 2016 7:43 am

Nepal Reinsurance Company Limited has successfully conducted its 1st Annual General Meeting (AGM) on Ashad 14, 2073.
The AGM increased authorized capital of the company from Rs 5 arba to Rs 15 arba. Also the issued capital has also been increased to Rs 15 arba from Rs 3 arba.
Mahesh Kumar Guragain, Chairman of the company said, ‘Nepal Reinsurance Company has initiated process to issue Initial Public Offering for public investment in the company. Also the company has furthered to provide service for capacity increment, development of technology required for credibility of the company in the international insurance market and rating of the company.’
Issuing a press statement yesterday it stated that the company has a national level reinsurance provision.
Source: ShareSansar, July 1, 2016