General Insurance starts Operation

June 21: Genreral Insurance Company, a non-life insurance company, has started its operation from Wednesdaym June 20. Kunak Kyal, chairman of General Insurance Company officially started the operation of the insurance company by inaugurating the corporate office in Hattisar. The number of non-life insurance companies in Nepal has reached to 18 with the operation of General Insurance Company.

Seventy percent out of the total paid-up capital of the company is owned by its founding members and the remaining 30 percent will be issued to the public. SK Tamet, managing director of the company, informed that the company has made plans to issue public share shortly.

He also informed that the company aims to operate 45 branches within the next six months. The paid-up capital of the company will reach Rs 1 billion after the issuance of public shares. The insurance company consists of 182 founding members.