December 04, 2001
KATHMANDU: Minister of State for Finance Bharat Kumar Shah Monday formally launched the joint venture Life Insurance Corporation (LIC) Nepal, a joint venture between Life Insurance Corporation of India and Vishal Group.
LIC India has a 55 percent stake in the company, the Vishal Group 25 percent while 20 percent of shares will be floated among the general public soon.
LIC Nepal which got an operating licence in August is Nepal’s fourth life insurance company.