Kathmandu: Reliance Life Insurance Company has celebrated its 4th anniversary today. The company had started its life insurance business 4 years ago on 1st Mangsir 2074..
The company is promoted by Siddhartha Bank, Kedia Organization, Siddhartha Group, Agni Holdings, M.C. Group, Reliance Group, Begani Group, Shiv Shakti Group. Siddhartha Bank has invested Rs 264 million in promoters shares. Similarly, Agni Holdings has an investment of Rs 100 million.
Chairman of Kedia Group,Tarchandra Kedia, is the chairman of the board of directors of the company. Pravin Raman Parajuli is the chief executive officer.
The company’s paid up capital is Rs 2.10 billion.The company has declared a cash dividend of 5.26 percent of the profits up to the fiscal year 2076/77.
The company is providing life insurance services through a total of 116 branch offices. The company has life fund of Rs. 3.2 billion. During this period, the company has earned Rs. 5.63 billion by selling more than 500,000 life insurance policies.