January 17: Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. 

Issuing a letter on January 13, insurance authority has given its nod to the two insurance companies to go into a merger. 

United Insurance Limited and Ajod Insurance Limited had signed the merger agreement on January 10. Both entities have agreed to prepare swap ration based on the Due Diligence (DDA) report. 

Earlier, Ajod Insurance and Prabhu Insurance had inked a memorandum of understanding (MoU) for a merger. However, the merger process was aborted after they could not agree on the name of the merged entity and swap ratio.