Kathmad: Prabhu Insurance Company has celebrated its glorious 27th anniversary toda. Prabhu Insurance established on Sawan 17, 2051 with a capital investment of Rs. 5 crore has now the paid up capital of Rs.1.28 billion.
Alliance Insurance Company was renamed as Prahbu Insurance after the entry of Prabhu Group as the major promoter.In this period, the company has collected Rs.50.91 lakh with 46 percent and 50 percent right shares respectively.
Govind Das Shrestha was the first chairman while Shailendra Kumar Shrestha was the first Chief Executive Officer of the company. The company is giving a average annual return of 14 to 15 percent to its shareholders.
On the occasion of the company’s anniversary, it has expressed gratitude to the customers, the Insurance Board, concerned bodies, shareholders, business establishments and well wishers. The management has made a commitment for better service delivery in the days to come.
Prabhu Insurance has been delivering general insurance service across the nation through its 54 branch offices.
Recently the company had reached a memorandum of understanding(MOU) with Ajod Insurance. After the completion of merger process, the name of the integrated company will remain Prabhu Insurance.