Kathmandu, August 7–Sun Nepal Life Insurance and Shangrila Development Bank have signed a bancassurance agreement to provide the former’s insurance services and products to the clients of the latter.
The deal was inked by Binod Sharma Poudel, Department Head, Sun Nepal Life Insurance and Tej Bahadur Thakulla, Department Head, Shangrila Development Bank on behalf of their respective organisations.
The insurance company, established just nine months back, has so far sold 11 different types of insurance policies to collect the total premiums amounting to Rs 296.90 million. The company plans to issue the Initial Public Offering (IPO) worth Rs 600 million to increase its paid-up capital to Rs 2 billion.
