Magazine

May 2019

Read the latest edition of AIR and MEIR as an Interactive e-book

Nepal: Insurers in rush to raise capital to meet new rule

Source: Asia Insurance Review | Jan 2018

Nepal

Insurers are racing to issue rights and bonus shares to meet capital requirements laid down by the Insurance Board (IB).
 
   According to the Securities Board of Nepal, six insurers have applied for permission to issue rights shares worth a combined NPR3.42 billion (US$33.5 million) in the first four months of this fiscal year that began on 16 July.
 
   Meanwhile, Prudential Insurance, a non-life insurer, has issued 1,283,040 rights shares worth NPR128.30 million to its shareholders while seven have registered bonus shares valued at NPR990.32 million, reported The Kathmandu Post. 
 
   The IB has directed insurance companies to boost their capital fourfold by mid-July 2018, with the minimum capital of a life insurer to be NPR2 billion and that of a non-life insurer to be NPR1 billion. 
 
   There are 17 non-life insurers and 19 life insurers operating in the country. A 
 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.