IME Life Insurance Company IPO
IME Life Insurance Company Limited will raise Rs 60 crores through an initial public offering (IPO). On Jestha 31, 2078, the company filed an IPO application with the Securities Board of Nigeria (SEBON).
The IPO’s issue manager is Civil Capital Market Limited.
About IME Life Insurance Company
The IME Life Insurance Company was founded on the 15th of Ashwin, 2065. (October 1, 2008). It began operations on Bhadra 1 in the year 2074. (August 17, 2017).
The company has a Rs 3 Arba authorized capital. Rs 1.40 Arba is the paid-up capital. The company will sell a 30 percent stake in the company to the general public for Rs 60 crores. As a result, after the IPO, the promoters will own 70 percent of the company.
The company’s chairman is Dr. Ram Hari Aryal.
Financial Condition Of IME Life Insurance
The current capital of IME Life Insurance Company is Rs 1.40 Arba. The capital will increase to Rs 2 Arba following the IPO. As directed by Beema Samiti, this will meet the minimum capital requirement for life insurance companies in Nepal.
The IME Life Insurance Company has collected Rs 189.54 crores in total premium by selling 40,534 insurance policies through the third quarter of fiscal year 2077/78. The company has invested and borrowed a total of Rs. 4.18 Arba. IME Life Insurance has made a net profit of Rs 10.01 crores in the last nine months. Similarly, the life assurance fund has a value of Rs 2.49 Arba.
Products Offered By IME Life Insurance
The company offers various insurance products to its customers which include:
1. IME Annual Cash Back Plan(5%)
2. IME Annual Cash Back Plan(6%)
3. IME Annual Cash Back Plan(7%)
4. IME Child Endowment Plan (IME Bal Ujjwal)
5. IME Child Money Back Plan (IME Bal Umanga)
6. IME Dhanbardhan Money Back Plan
7. IME Endowment plus Whole Life Plan (IME Aajeevan Sawadhik Beema Yojana)
8. IME Limited Payment Endowment Plan (IME Sabal Jeevan Beema Yojana)
9. IME Limited Payment Money Back Plan (Dhanbriksha Jeewan Beema Yojana)
10. IME Money Back Cum Whole Life Plan (IME Kalpandhan)
11. IME Simple Endowment Plan ( IME Saral Sawadhik Bima Yojana)