• BIZ BRIEFS
KATHMANDU: Sagarmatha Insurance Company (SIC) and Lumbini General Insurance Company (LGIC) signed a memorandum of understanding for merger on Thursday.
The agreement was signed by SIC board member Lokmanya Golchha and LGIC board member Arun Raj Shrestha on behalf of their respective organisations, as per a press statement.
SIC and LGIC have agreed upon a share swap ratio of 100:80. LGIC Chairman Manohar Das Mool will hold the position of chairman while current Chief Executive Officer of SIC Chunky Chhetry will be the CEO of the merged entity.
A version of this article appears in the print on July 15, 2022, of The Himalayan Times.
