Kathmandu. Citizen Life Insurance has completed its 9-year glorious journey.
The company started its life insurance business on October 17, 2017. The company received the operating license of the insurance company from the Insurance Authority of Nepal on August 20, 2017. In a short span of time, the company has been able to attract customers with its insurance services.
Citizen Life has been serving its customers through 135 branches and sub-branches in different parts of the country. The company’s service network is strong and diverse. Due to this, it has been distributing a wide range of insurance products.
In compliance with regulatory regulations, Citizen Life has entered into reinsurance arrangements with Nepal Reinsurance Company and Himalayan Reinsurance as well as overseas based consulting actuaries. Citizen Life is focused on implementing the international global practices of successful companies in the local market according to local needs based on the concept of glocalization. With the use of innovative technology, Citizen Life aims to reach the grassroots level and support families in the event of financial hardship caused by the loss of an earner.
Citizen Life is completely focused on customer satisfaction. It provides value and excellent service to its customers and insured through innovative insurance plans designed keeping in mind the social needs. The company has come up with a variety of security plans to help secure the future of the insured’s family.
On the occasion of the company’s ninth anniversary, CEO Poshakraj Poudel expressed his gratitude to all customers, business citizen leaders, regulatory bodies, shareholders, Board of Directors, management team, staff and well-wishers for their continued trust, support and support to the company. “We are committed to provide more quality, reliable and customer-centric service in the days to come, assimilating the achievements and experiences gained in this journey of nine years,” he added.
CEO Poudel also extended his best wishes to all Nepali brothers and sisters for their happiness, peace, good health, prosperity and continued progress on the occasion of the great festival of Nepalis.
Citizen Life has earned a profit of Rs 390.8 crore in the financial year 2082. As of the end of July 83, it has earned a profit of Rs 390.8 crore. Which is 106 percent higher than the previous year 2081. 82.
Similarly, the company has a life insurance fund of Rs 27.02 billion and a catastrophe fund of Rs 26.94 crore. The company has a retained earnings of Rs 44.96 crore in share premium and Rs 49.83 crore.
The company had a paid-up capital of Rs 5 billion and had managed to bring in business of Rs 9.37 billion till mid-July of the last FY.
Currently, Pradeep Jung Pandey is the chairman of the company.
