• BIZ BRIEFS
KATHMANDU: The special general meeting (SGM) of Union Life Insurance Co Ltd (ULICL) was held at Bhairahawa.
The meeting has approved the final proposals regarding merger/amalgamation of ULICL, Prime Life Insurance Co Ltd and Gurans Life Insurance Co Ltd, as per a media release.
The meeting has also accepted the proposal that the name of the merged entity shall be Himalayan Life Insurance Ltd. In addition to authorising the board of directors to carry out the remaining work for the purpose of merger/amalgamation, the proposal regarding the change in the board of directors and the tenure of the directors has also been passed.
It has also been agreed to maintain the share ratio of all the three companies at 1:1:1 respectively.
A version of this article appears in the print on April 20, 2023, of The Himalayan Times.
