Kathmandu. Nepal Life Insurance has launched Nepal Life Investment Company ltd. Govinda Sanghai, chairman of the Board of Directors of Nepal Life, inaugurated the investment company’s office on the third floor of the company’s office building at Kamalpokhari.
Nepal Life Insurance, which has set up an insurance fund of around Rs 250 billion, has set up an investment company to effectively manage its investment and accelerate investment diversification.
Prabin Raman Parajuli, CHIEF Executive Officer of Nepal Life, said that the company has set up an investment company to seize this opportunity in the backdrop of the Insurance Act defining some sectors and encouraging investment in the manufacturing sector. The authorized capital of the company is Rs 5 billion and the paid-up capital is Rs 1.25 billion.
Parajuli said the focus would be on return along with traditional investments, giving priority to the protection of capital. Prabin Raman Parajuli, CHIEF Executive Officer of Nepal Life, pointed out that the investment company established to achieve the special purpose is an exemplary structural progress for the entire insurance sector of Nepal.
Govinda Sanghai, chairman of the board of directors of the company, said that the company has been established with the objective of increasing the return of investment of Nepal Life in a qualitative way. He said that the declining interest rate on savings also left no alternative to finding alternative areas of investment.
Subhash Thapa is the CHIEF executive officer of the company.
