March 20: IME General Insurance Limited and Prudential Insurance Company Limited have signed the final agreement for merger. The two non-life insurance companies inked the final merger agreement on March 19. 

With the final merger agreement, two companies will hold their Special General Meetings (SGMs) and approve the merger proposal and start preparations for the joint transactions.

Both companies have finished their Due Diligence Audit (DDA) and agreed to merge with a swap ration of 1:1 in line with previous understanding. IME General Insurance has the total paid up capital of Rs 1.70 billion. 

Prudential Insurance Company has a paid up capital of Rs 1.18 billion. The company has announced to provide bonus share of 3.325 to the shareholders. Following the bonus adjustment, the paid-up capital of the insuarnce will reach Rs 1.22 billion.