Nepal to split state-owned insurer's life and nonlife unitsReprints
The government of Nepal will split state-controlled insurer Rastriya Beema Sansthan's life and nonlife operations.
It has decided to set up a new public limited company, named Nepal Beema Co., to handle the nonlife operations. The government will own 41% of the new entity, while 30% of shares will be issued to the public. The government had previously failed to split the insurer's life and nonlife units after employee unions protested.