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NB Insurance rebranded to IME General Insurance

In line with market demand and the decision taken by the 20th General Meeting and approval letter received from Insurance Committee to change the name of the company, NB insurance has rebranded itself to IME General Insurance. The company resumed operations under new management from Asadh 2072 after undergoing a crisis phase and its acquisition by IME Group. At a program organised to inform about the change in the company’s name and logo, IME Group’s Managing Director told the media that it is planning to increase its paid up capital to 972 million from 540 million and after that plans to reach the paid up capital ceiling of Rs one billion fixed by the Insurance Board.

Till mid-October, the company has earned Rs 220 million in insurance premiums and a net profit of Rs 25.5 million.

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