National Life Insurance entered in 37th year of its Operation

Kathmandu : National Life Insurance Company, which has become a milestone in the history of Nepalese life insurance, its has entered 37th year from 22th February, 2024 (10th of Falgun, 2080 B.S). National Life Insurance, which was established on 22 February 1988 (10th of Falgun, 2044 B.S) after observing that only government insurance companies cannot insure people, is now celebrating its 37th anniversary with a grand ceremony.

Nepal’s first private sector life insurance company, which was established with the aim of providing life insurance services to the general public at their doorstep, has announced its commitment to give maximum bonus to the insured and highest returns to the investors on the occasion of its 37th anniversary. The company, which has been giving the best bonus based on the bonus rate, has promised to improve it further in the future and give maximum benefits to the insured.

The company said that on the occasion of the 37th anniversary, blood donation and other programs will be organized across the country. Similarly, there are programs of providing food by reaching the old age homes as well.

Established with the aim of providing world-class insurance services to the common people, National Life Insurance Company has been providing simple and accessible insurance services to the common people as the third largest company in terms of life insurance fund and the second largest in terms of business growth. By showing its presence in all 77 districts of the country, the company has been making life insurance simple and convenient for the common people.

The main promoter of this company is Rastriya Banijya Bank (Central Bank of Nepal) which is an investment of the Government of Nepal whereas the share structure of the company is 55 percent of the founding investors and 45 percent of the general public. It is moving forward with the long-term goal of life insurance. 5 billion 11 million 666 thousand 425 Rupees is the paid-up capital of this company.

According to the latest statistics of the second quarter financial statement of the current fiscal year, the life insurance fund of the company has managed to accumulate worth of 71 billion 440 million Rupees. At present, there are 1 million 592 thousand 776 insurance policies that have been issued (until the end of the year). The company has managed to collect more than 8.67 billion Rupees as an insurance fees in the last six months.

On the occasion of the 37th anniversary, it has committed to provide simple and accessible insurance services with the help of technology. National Life Insurance Company with a maximum declared bonus rate of 85 rupees is the highest bonus giving company in Nepal. Being the company that gives the highest bonus in Nepal, it has been able to make significant progress even in the extreme economic crisis of the country.

On the occasion of the 37th anniversary, the National Life Insurance Company, which has been providing maximum increase in the bonus rate to the insured, adequate returns to the investors and simple insurance services to the general public, is currently providing insurance services through 117 branches and sub-branch offices in the country. This company, which has been spreading insurance awareness among the general public through more than 100 Thousand insurance agents, Thousands of agency managers and senior agencies spread across the country, has been showing strong presence in the insurance business lately.  About 480 employees are working in this company.On the occasion of the 37th anniversary, the CEO of the company, Suresh Prasad Khatri, has expressed his commitment to move forward in Nepal’s life insurance market by embracing full business practices, technology-friendly life insurance services, transparency, reliability and honesty as the main guiding principles. . “As a 37-year-old company with a long history, we want to give a special thanks to the customers and agents”, CEO Suresh Prasad Khatri gave a commitment and said, “National Life Insurance has reached here today due to the trust of the common customers, as a result of the tireless efforts of the insurance agents and employees. For years, the company has been able to provide excellent insurance services. It has succeeded in becoming the most popular company in the country due to the proper guidance of the regulatory body and the contribution of the directors and former CEOs.”

On the occasion of the anniversary, Chief Executive Officer Suresh Prasad Khatri thanked all former CEOs and presidents, employees, insurance policyholders, insurance agents and regulatory bodies who contributed to bring National Life Insurance Company to its present state.

On the occasion of the 37th anniversary, CEO Khatri has promised to work to increase the bonus of the company in the future without reducing it and has called on everyone to celebrate this occasion.