KATHMANDU: Chairman of Insurance Board Fatta Bahadur KC inaugurated the new building of Natinal Life Insurance Co Ltd (NLICL) during an event to commemorate the 29th anniversary of the company on Monday. The building, which cost Rs 206.1 million, has double basement parking and stands six storey high. The building with the basement parking that can accommodate 75 vehicles has been built using quake-resistant technology, as per the statement. Moreover, the building is fitted with water treatment plant, has 24-hour power backup facility and central air conditioning. The company has sub-let the extra space in the building to other companies.