Kathmandu: Reliable Nepal Life Insurance Company has completed four year of operation. The company had started life insurance business on Sawan 2074 BS. It has managed to sell highest life insurance policies in a short period of time. The number of policy includes high volume of term and micro policy.
The company has sold 3,69,678 policies by mid-July 2021. Based on the number of policies issued, the company’s market share is the highest at 34.26 percent. The company has managed to issue the highest number of policies while selling micro-policies through microfinance to the low-income group.
Among the promoters of the company are representatives of Global IME Bank, Century Commercial Bank and eminent industrialists, bankers and economists of Nepal. Operated by agile, experienced and diligent management, the company has opened branch and agency offices in various locations, including provincial offices in all seven states.It is currently providing life insurance services through more than 82 branch offices. During this period, it has succeeded in making more than 15,000 agents.
The current paid up capital of the company is Rs. 1.40 billion. The company, which has started the practice of issuing primary shares with premium for the first time in the insurance sector, is going to issue 6 million IPOs at Rs.212 per share with a premium of Rs.112. It will add Rs. 672 million in the reserve fund. The company has managed to allocate Rs.2.58 billion in the life insurance fund during the four years of its establishment.
On the occasion of the fourth anniversary, the company has expressed its heartfelt gratitude to the individuals and organizations, insurers, agents, regulatory body, insurance board, shareholders, agents, employees and others who directly or indirectly support the company.