Nepal’s oldest insurer Nepal Insurance Celebrates Diamond Jubilee

Kathmandu: Nepal’s first insurance company Nepal Insurance Company is celebrating Diamond Jubilee on the occasion of  commencement of 75 years of service delivery. Considering the high risk of infection of Covid19, the company is going to celebrate Diamond Jubilee in general. The company is preparing to celebrate the Diamond Jubilee with the participation of the management and top management employees. Employees who have served the company for 25 years will be honored with medals.

“The company would like to express its heartfelt gratitude to all the customers, regulators, Nepal Bank and other reputed investors, employees and well-wishers for inspiring us to move forward by directly and indirectly supporting and assisting us in such a long journey. Also, we have always pledged to provide excellent service in the days to come.”

Government of Nepal’s ownership of the company has been reduced from 51 percent to 15 percent. During this period, reputed business houses of Nepal have increased their stake. While IME and Vishal Group have been increasing their stocks, they have transformed from a Government organization to a competitive private organization.

The company has succeeded in selling cyber insurance policy for the first time in Nepal. CEO Ishwar Pokharel expressed his commitment to provide his services in the same way as the private sector companies of the world have been providing excellent services. “The company will move forward with all compliance and spirit,” he said.

Nepal Insurance is in the sixth place in terms of profit earning. The paid-up capital has reached Rs. 1.24 billion while Rs. 426 million has been deposited in the reserve fund. By mid-July of the last FY 2020-21, the company had managed to earn Rs. 1.27 billion insurance premiums. Non-life insurance services are being provided by 50 branch offices including the central office.

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