Government Approves Additional Right Share Investment in Nepal Reinsurance; NRIC Hits 15% Positive Circuit Today
Summary
The Government of Nepal has approved additional right share investment in Nepal Reinsurance Company Limited, lifting investor sentiment and sending the stock to the 15% positive circuit. The move is expected to help the company meet the Nepal Insurance Authority’s minimum paid-up capital requirement and advance its long-delayed expansion plan.
Key Points
- The Government of Nepal has given in-principle approval for additional right share investment in Nepal Reinsurance Company Limited.
- Nepal Reinsurance’s share price hit the 15% positive circuit after the announcement, reflecting strong investor interest.
- The additional capital is intended to help the company meet the Nepal Insurance Authority’s Rs. 20 billion minimum paid-up capital requirement.
- A stronger domestic reinsurance base could support infrastructure, hydropower and industrial projects while reducing premium outflows abroad.
