Kathmandu: The first-ever merger of life insurance companies has finally taken place last week. The successful accomplishment of the merger process between Surya Life Insurance and Jyoti Life Insurance has resulted in the emergence of Surya Jyoti Life Insurance. The new company has the brand slogan ‘Jiwan ko Lagi (for Life)’.
Over speculations that the merger among life insurance companies would not be materialized, these two companies have made it possible within six months. The memorandum of understanding(MoU) was signed on 12th Asar 2079. These two companies announced integrated operations from 7th Paush 2079.
Keshab Prasad Bhattarai has been elected as the president of the newly formed integrated company. Prakash Bikram Khatri, the CEO of former Jyoti Life, has become the Chief Executive Officer and Pawan Kumar Khadka, the CEO of former Surya Life, has been appointed as Deputy Chief Executive Officer.
The paid-up capital of Surya Jyoti Life is Rs. 4.54 billion and the total investment is above Rs. 28 billion. The total life insurance fund till the first quarter of 2079-80 is Rs.22 billion. The total insurance fee is Rs.2.27 billion and profits exceed Rs. 420 million.
As of today, the total number of employees of the company is about 700, the total number of agents is more than 75,000, and the number of products is 15, serving more than 1.3 million insured people from 181 branches in seven provinces across the country.
Prakash Bikram Khatri, CEO of Surya Jyoti Life has made the commitment to offering excellent service with high competitiveness.
