Tag: Reinsurance

  • Promoter Share Auction: Nepal Reinsurance Company Units on Bid by Leading Companies

    Promoter Share Auction: Nepal Reinsurance Company Units on Bid by Leading Companies


    IGI Prudential Insurance Limited, Global IME Capital Limited, Hathway Investment Nepal Limited, and IME Limited are conducting auctions for the promoter shares of Nepal Reinsurance Company Limited (NRIC). The total units for auction include 20,00,000 for IGI Prudential Insurance Limited, 1,87,434 for Global IME Capital Limited, 6,50,000 for Hathway Investment Nepal Limited, and 7,50,000 for IME Limited. The auction period spans from the 8th of Falgun to the 12th of Chaitra, 2080.

    The minimum bid rate for the auction is set at Rs. 280. Additionally, each of the companies has established a minimum bid quantity for their respective promoter shares: 20,00,000 units for IGI Prudential Insurance Limited, 1,87,434 units for Global IME Capital Limited, 6,50,000 units for Hathway Investment Nepal Limited, and 7,50,000 units for IME Limited.

    To oversee and manage the auctions, Global IME Capital Limited has been appointed as the auction manager for all four transactions. Interested parties have the opportunity to participate in the auctions within the specified timeframe, aiming to acquire the promoter shares of NRIC at the set minimum bid rate.

  • Last Day for HRL and Asian Life Insurance Dividend Grab

    Last Day for HRL and Asian Life Insurance Dividend Grab


    Today marks the deadline to avail the 5.789% dividend offered by Himalayan Reinsurance Limited (HRL). The company has scheduled its 3rd Annual General Meeting (AGM) for 20th Falgun, 2080, to be held at Rastriya Sabha Griha, Pradarshani Marg, Kathmandu, starting at 11:00 AM.

    In the 55th board meeting held on Magh 25, it was decided to distribute dividends based on the paid-up capital of Rs. 10 Arba. The proposal includes 4% bonus shares and a 0.21% cash dividend (for tax purposes). This translates to bonus shares valued at Rs. 40 crores and a cash dividend of Rs. 2.10 crores.

     

  • Himalayan Re-Insurance’s Net Profit Surges 99.73% on 154.65% Rise in Net Premiums; EPS Reaches Rs. 12.05

    Himalayan Re-Insurance’s Net Profit Surges 99.73% on 154.65% Rise in Net Premiums; EPS Reaches Rs. 12.05


    In the second quarter of the fiscal year 2080/81, HRL experienced a remarkable 154.65% rise in net premiums, reaching Rs. 1.99 Arba compared to the previous year. The company also demonstrated strong financial management by generating Rs. 47.32 Crores from investment income and other financial activities.

    However, during the same period, there was a 50.90% increase in net claims, totaling Rs. 73.15 Crores.

    Key financial indicators reflect HRL’s strong performance, with an annualized EPS of Rs. 12.05, net worth per share at Rs. 147.31, and a P/E ratio of 41.30 times, indicating the company’s resilience and promising financial outlook.

     

  • Himalayan Reinsurance Proposes 80% Right Shares Post Bonus Adjustment

    Himalayan Reinsurance Proposes 80% Right Shares Post Bonus Adjustment


     

    Himalayan Reinsurance Limited (HRL) has scheduled its 3rd Annual General Meeting (AGM) for the 20th of Falgun, 2080, to be held at Rastriya Sabha Griha, Pradarshani Marg, Kathmandu, starting at 11:00 AM.

    One of the key agendas of the AGM is the approval of a 4.21% dividend for the fiscal year 2079/80. During the 55th board of directors meeting on Magh 25, it was decided to distribute the dividend on the paid-up capital of Rs. 10 Arba. The proposed distribution includes 4% bonus shares and 0.21% cash dividend for tax purposes. This translates to bonus shares valued at Rs. 40 crores and a cash dividend of Rs. 2.10 crores.

     

  • Himalayan Reinsurance Proposes 4.21% Dividend for FY 2079/80; Includes Bonus Shares and Cash

    Himalayan Reinsurance Proposes 4.21% Dividend for FY 2079/80; Includes Bonus Shares and Cash


    Himalayan Reinsurance Limited (HRL) has suggested a dividend of 4.21% for the fiscal year 2079/80. In a decision made during the 55th board of directors meeting on Magh 25, it was agreed to distribute this dividend based on the paid-up capital of Rs. 10 Arba. The proposal includes 4% bonus shares and a 0.21% cash dividend, totaling Rs. 40 crores and Rs. 2.10 crores respectively. However, the dividend distribution is subject to approval by the central bank and endorsement at the company’s upcoming Annual General Meeting (AGM).

     

  • Vishal Group Limited Initiates Auction of 15,00,000 Promoter Shares of Nepal Reinsurance Company Limited (NRIC) with NIC Asia Capital as Auction Manager

    Vishal Group Limited Initiates Auction of 15,00,000 Promoter Shares of Nepal Reinsurance Company Limited (NRIC) with NIC Asia Capital as Auction Manager


    Vishal Group Limited has initiated the auction of 15,00,000 units of promoter shares belonging to Nepal Reinsurance Company Limited (NRIC). The auction, which commenced today on the 24th of Poush, is set to continue until the 29th of Magh, 2080.

    The auction specifically involves 15,00,000 units of promoter shares from Nepal Reinsurance Company Limited, and it is open to interested promoter shareholders who are eligible to participate in the bidding process. The minimum bid rate for these shares is set at Rs. 325. Participants in the auction must bid for a minimum quantity of 2,00,000 units, with the maximum bid capped at 15,00,000 units.

    NIC Asia Capital Limited has been appointed as the auction manager overseeing the entire process.

    As of the latest available information, Nepal Reinsurance Company Limited (NRIC) is currently trading at a Last Traded Price (LTP) of Rs. 682.90.

  • Himalayan Reinsurance ko ipo demat ma ako xaina ta ?

    Himalayan Reinsurance ko ipo demat ma ako xaina ta ?


    Sabai ko demat ma ipo Ayo vanxan, mero ma ta ajhai ako xaina ta?

    View on r/NepalStock by Mystery2058

  • Himalayan Reinsurance Limited Premium Share ho ki Ordinary since it’s at 206?

    Himalayan Reinsurance Limited Premium Share ho ki Ordinary since it’s at 206?


    Was having this queries since very long so would really appreciate if you would answer it!

    View on r/NepalStock by itslakha_

  • Himalayan re-insurance ipo released

    Himalayan re-insurance ipo released


    Is it worth or not?

    View on r/NepalStock by WarRomantic_69

  • Himalayan Reinsurance IPO Allotment Concluded: Oversubscribed 1.2 Times with Strong Investor Interest

    Himalayan Reinsurance IPO Allotment Concluded: Oversubscribed 1.2 Times with Strong Investor Interest


    The allocation of Initial Public Offering (IPO) shares for Himalayan Reinsurance Limited has been finalized at Taj Reception in Baluwatar, Kathmandu. The company had issued 2,49,00,000 units of IPO shares at a price of Rs. 206 per share (Rs. 100 face value + Rs. 106 premium) to the general public from Mangsir 27 to Poush 2, 2080.

    Out of the total 3,00,00,000 units offered, 10% (30,00,000 units) were issued from 4th to 18th Mangsir and allotted to Nepalese Citizens working abroad on 24th Mangsir. Additionally, 2% (6,00,000 units) were reserved for the company’s employees, and 5% (15,00,000 units) were set aside for mutual funds. The remaining 2,49,00,000 units were made available to the general public. NMB Capital Limited served as the issue manager for the IPO.

    The IPO garnered significant interest, with 15,64,564 valid applicants applying for a total of 2,99,97,720 units, resulting in oversubscription by more than 1.2 times. The allotment process included a lottery for applicants who applied up to 34,050 units, with 10 extra units allocated. Out of 96,538 lottery-eligible applicants, 29,021 were allotted the additional units.

    The IPO result and allotment details can be accessed through CDSC IPO Result, MeroShare, and NMB Capital Limited. ICRA Nepal has affirmed an issuer rating of [ICRANP-IR] A- for Himalayan Reinsurance Limited, indicating a satisfactory level of safety in meeting financial obligations.

    Himalayan Reinsurance Limited, established in 2021, is the second reinsurance company to issue an IPO in Nepal. It specializes in providing reinsurance support to both Life and Non-Life Insurance Companies within Nepal and internationally. The company’s prominent promoters include leading business conglomerates and financial institutions such as Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, and others.

  • IPO Launch and Strong Investor Interest: Himalayan Reinsurance Limited’s Milestone in Nepal’s Financial Market

    IPO Launch and Strong Investor Interest: Himalayan Reinsurance Limited’s Milestone in Nepal’s Financial Market


    Himalayan Reinsurance Limited initiated the issuance of 2,49,00,000 units of IPO shares to the public starting from the 27th of Mangsir, 2080. The early closing date for this offering is set on the 1st of Poush, with the possibility of extension up to the 11th of Poush, 2080, if the subscription is not fully met.

    Out of the total 3,00,00,000 units, a portion has already been allocated – 10% (30,00,000 units) for Nepalese citizens working abroad, 2% (6,00,000 units) for company employees, and 5% (15,00,000 units) for mutual funds. The remaining 2,49,00,000 units are made available to the general public at a cost of Rs. 206 per share, inclusive of a Rs. 100 face value and a Rs. 106 premium.

    NMB Capital Limited holds the position of the issue manager, overseeing the application process. Interested parties can submit applications for a minimum of 10 units and a maximum of 3,00,000 units. As per the Central Depository and Clearing Company (CDSC), a total of 888,744 applicants have applied for 16,008,080 units, amounting to Rs. 3.29 Arba. Consequently, the subscription rate stands at 64.29% as of 10 AM.

    ICRA Nepal has reconfirmed an issuer rating of [ICRANP-IR] A- for Himalayan Reinsurance Limited. This rating, denoted as ICRA NP Issuer Rating A Minus, signifies a satisfactory level of safety concerning the company’s ability to meet financial obligations in a timely manner. Companies with such ratings are considered to have low credit risk.

    Established in 2021, Himalayan Reinsurance Limited is the second reinsurance company in Nepal to issue an IPO. As a leading private-sector reinsurance firm, it specializes in providing reinsurance support to both Life and Non-Life Insurance Companies within Nepal and internationally. The company received its operational license in 2021, marking a significant milestone in its operations.

  • Himalayan Reinsurance Successfully Allocates IPO Shares to Nepalese Citizens Working Abroad

    Himalayan Reinsurance Successfully Allocates IPO Shares to Nepalese Citizens Working Abroad


    Himalayan Reinsurance Limited has successfully allocated IPO shares to Nepalese citizens working abroad, marking the completion of the allotment process on 24th Mangsir, 2080. The company, with a total issued capital of Rs. 10 Arba, allocated 30% or 3,00,00,000 unit shares for the public, including Nepalese citizens working abroad and the general public. In the specific category for Nepalese citizens working abroad, 10% or 30,00,000 unit shares were issued at a rate of Rs. 206 per share (Rs. 100 face value + Rs. 106 premium price) from December 4th to 18th Mangsir.

    The allotment module received a total of 32,056 applications for 4,338,650 units. Valid applications ranged from 10 to 170 units, with applicants in this range receiving their requested allocations in full. For those applying for 180 to 19,500 units, 170 units were allotted per applicant, and a lottery process determined an additional 10 units for 2,651 applicants.

    NMB Capital Limited served as the appointed issue manager, allowing applicants to place bids for a minimum of 10 units and a maximum of 300,000 units. Going forward, Himalayan Reinsurance Limited will issue the remaining 2,49,00,000 units for the general public from 27th Mangsir to 1st Poush, 2080, at a rate of Rs. 206 per share.

    The prominent promoters of Himalayan Reinsurance include key business conglomerates and significant financial institutions such as Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, Himalayan Infrastructure Fund Ltd., Shalimar Investment, Saffron CK Investments, Vaishnav Enterprises, Murarka Group, K L Dugar Group, M V Dugar Group, R H Group, M S Corp, IME Group, Prem Gurung and Group, Ashlesha Enterprises, Allied Continental, and Balaji Marbles.

    ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] A- for Himalayan Reinsurance Limited, signifying an adequate level of safety regarding the timely servicing of financial obligations and indicating low credit risk for the company.