Nepal Life Insurance Receives ICAN’s Best Annual Report Award 2024
Kathmandu — As Nepal Life Insurance Company approaches its 25th anniversary, it has added a prestigious recognition to its legacy by winning the Best Annual Report Award 2024, presented by the Institute of Chartered Accountants of Nepal (ICAN). The award ceremony, held at Hotel Radisson on Friday, was graced by the presence of Auditor General Toyam Rana, who handed over the honor to the company’s Chief Executive Officer, Praveen Raman Parajuli, and Deputy CEO, Amit Kumar Kayal.
The company received the Silver Award under the Life Insurance category, distinguishing itself among Nepal’s life insurance providers for its exemplary financial reporting for the fiscal year 2080/81. This is the first time a life insurance company in Nepal has been recognized with this award, making it a landmark achievement in the industry.
Nepal Life was selected for its adherence to national and international financial reporting standards, the comprehensiveness of its published financial indicators, and its strong focus on financial transparency, accountability, and good corporate governance. The award also reflects the company’s consistent efforts to maintain ethical financial practices and clear communication with all stakeholders.
Speaking at the event, CEO Praveen Raman Parajuli expressed his gratitude for the honor, describing it as both a moment of pride and a renewed call for responsibility. He emphasized that Nepal Life’s core commitment to transparency, accountability, and sound governance will continue to guide its operations in the years ahead. Parajuli also acknowledged the vital role played by the company’s Board of Directors, policyholders, agents, employees, shareholders, regulatory bodies, and other partners in this achievement.
Holding nearly 30 percent of the total market share in Nepal’s life insurance sector, Nepal Life has long been a leader in both growth and governance. As it nears its silver jubilee, the company views this award not as a culmination, but as motivation to keep raising the bar for excellence in Nepal’s insurance industry.
