Kathmandu. Reliance Life Insurance and Sanima Life Insurance are merging MOU sign. The MoU was signed by Director Bharat Kumar Todi on behalf of Reliance Life and Director Ghanshyam Thapa on behalf of Sanima Life. The insurance company has informed that it has agreed to maintain the swap ratio of 1: 1 if not otherwise after the valuation of liabilities and assets.

At present, Sanima Life Insurance has a paid up capital of Rs 2.8 billion and Reliance Life has a paid up capital of Rs 2.10 billion. The paid-up capital of the company to be formed after the merger in the ratio of 1: 1 will exceed Rs 4.18 billion. Which is less than the minimum capital specified by the Insurance Committee. The committee has set the minimum paid-up capital of a life insurance company at Rs 5 billion.