KATHMANDU: General Insurance Company Nepal Ltd has started its transaction in the domestic market.

Acquiring permission from the Insurance Board, the company announced its formal operation from Wednesday through an event organised at the company’s corporate office located in Hattisar, Kathmandu.

Issuing a press statement, officials of General Insurance said that the company has paid-up capital worth Rs one billion.

General Insurance has 70 per cent investment of promoters and 30 per cent of the general public.