KATHMANDU: The 108th board of directors meeting of Reliance Life Insurance (RLI) held on Wednesday has decided to go for merger with Sanima Life Insurance (SLI) and appointed Director Bharat Kumar Todi to handle the audits and carry out the necessary works to get approval from the concerned authorities.
In this regard, the two life insurance companies signed a memorandum of understanding for merger, with Todi representing RLI and Director Ghanashyam Thapa representing SLI.
As per the initial agreement, the share swap ratio has been set at 1:1.
