November 24: NMB Insurance Company has changed its name to IME General Insurance on Thursday, November 23. The rebranding was done after NMB was purchased by IME Group, reads a statement issued by the company. The non-life insurance company has been operating since the last 20 years. The total paid-up capital of the insurance company is Rs 540 million, and the company has also distributed 80 percent rights share. After distributing the rights share, the total paid-up capital of the insurance company has reached Rs 972 million.

As per the directive of the Insurance Board (IB), the company is in the process of raising the paid-up capital to Rs 1 billion.