Kathmandu: Prabhu Life Insurance Company has entered its fifth year of operation. The company’s management has thanked all the stakeholders for their unconditional support. On the occasion of it’s fourth anniversary, it has promised to continue the mission for life insurance awareness and better services.
Chief Executive Officer Narayan Prasad Poudel informed that on the occasion of the anniversary, the company has provided financial assistance of Rs. 500,000 to Samata Foundation for school operation.
Founded by Prabhu Group, the company has 12 institutional shareholders including Prabhu Bank, Sangrila Development Bank, Green Development Bank and Prabhu Capital.
The company has earned more than Rs 3.82 billion in insurance premiums since its inception. During this period, more than 270,000 insurance policies have been sold. The company has also paid claims of Rs. 158.3 million to the insured during the last four years. The company has declared a bonus rate of Rs. 30 to Rs. 70 per thousand for the policyholders.
It has a life insurance fund of Rs. 2.30 billion while the reserve fund has Rs. 424.4 million.