• Tel: 00977-1-4441414
  • |
  • Email: info@primelifenepal.com

CEO's Message

Smiley face I am pleased to report that the Company in recent years recorded an upright growth in life insurance business, with increase in Premium collection in all segments of the business. The Company also witnessed continuous increment in net profit and shareholder’s fund. The Company succeeded to add substantial amount in Policy holders Life fund, which was possible only with the economy in operation expenses and efficiency of the working team. However, achieving these results were challenging in the backdrop of continuing instability in political scenario, increased inflation and unpredictable financial and capital market.  

The Company performance in recent years, in all sector of the industry, has been admirable:

  • Capital = NPR 1,785 Mil.
  • Life Funds = NPR 6,200 Mil.
  • Premium = NPR 11,613 Mil.
  • No. of Policies = 15,97,040
  • Investment = NPR 8,201 Mil.
  • Claim Settlement = NPR 249 Mil.

In a pragmatic steps ahead to strengthen the capital base and create a position of high risk bearing capacity of the Insurance Companies the regulator, Beema Samiti, has directed Life Insurance Companies to increase their minimum paid-up capital from existing Rs. 500 million to a significantly higher amount of Rs.2 billion by the end of Fiscal Year 2017/18. It was a great challenge to increase the capital to four times within the very short time period given. Since, the management of the Company was committed on every activity to strengthen the Company profile, with the support of all concerned could make the required capital base within the time frame prescribed by the regulator. 

The Company has articulated a five-year strategy 2018/19 – 2022/23 that foresees the future image of the Company. The operation of the Company shall be focused on the easy and accessible insurance services to the proposed insured and policy holders of the Company for that the Company shall adopt customer-centric business activities with the aim of enhancing customer satisfaction, and high end use of information technology for process automation, bringing superior operational efficiency and optimum turnaround time. This strategy is expected to bring a paradigm shift by the end of the strategy period in terms of the Company’s overall position.

The Company has always been maintaining high level of corporate standards, a zero-tolerance compliance and performance-driven work culture. The Company values the trust and confidence of it’s insured, and is equally committed and responsible to be a trustworthy institution, where insured interests are highly protected. It is important that the Company has to assure integrity in all its operation andshould maintain and respect it at all times.

I would like to express my heartfelt thanks to the Board of Directors for their generous support and guidance, all of my Company staff for their wonderful efforts and excellent contribution, all our shareholders, regulator, agency force and all the stakeholders for their support and contribution from their respective ends.

Manoj Kumar Bhattarai                                                  
Chief Executive Officer
 

Thank you and warm welcome to Prime Life

Prime Life

PrimeLife's Mission is to reach out to people and make a difference to their lives through superior life insurance products and helping them to look up to a better tomorrow.
 


Contact Info

  • Hattisar, Kathmandu
  • P. Box 25979
  • 00977-1-4441414
  • info@primelifenepal.com