KATHMANDU: The special general meeting (SGM) of IME General Insurance Co Ltd (IGICL) has concluded successfully.

In the meeting, IGICL Chairman Hemraj Dhakal informed that the SGM had been convened in accordance with the final agreement regarding the merger of IME General Insurance Ltd and Prudential Insurance Co Ltd, as per a press statement.

Based on the preliminary agreement regarding the merger of both the companies, the share swap ratio has been agreed at 1:1.

The paid-up capital of IGI Prudential Insurance Ltd, which will be formed after the merger, will be Rs 3.02 billion.

A version of this article appears in the print on April 6, 2023, of The Himalayan Times.