Kathmandu. Nepal Life Insurance Company Limited has formally launched its wholly-owned subsidiary ‘Nepal Life Investment Company Limited’ with an investment of Rs 5 billion. The company’s Chairman of the Board of Directors, Govinda Lal Sanghai, and the Executive Director of the Nepal Insurance Authority, Sushil Dev Subedi, jointly inaugurated the company’s central office. The company has started this new journey on the occasion of its 25th year in the insurance market.
Addressing the inauguration ceremony, Nepal Life Insurance Company Chairman of the Board of Directors, Govinda Lal Sanghai, said that Nepal Life has become the most trusted and has succeeded in capturing about 30 percent market share as it enters its 25th year. Stating that Nepal Life has been playing an important role in providing financial security to every family through life insurance, he said that the company has established Nepal Life Investment Company to provide high returns and minimize market challenges.
Investment diversification is our main objective, we have established a subsidiary with this objective,” he clarified. Sanghai expressed confidence that the Nepal Life Investment Company established by the company can establish itself as an exemplary company by proceeding according to the rules of the regulatory body. He also expressed hope that the highest returns can be provided while maintaining institutional good governance.
Sushil Dev Subedi, Executive Director of the Authority, has described the effort as an important step for the long-term strengthening of the insurance sector. He said, “People’s money earned through hard work, sweat or business “Ultimately, it is deposited into the insurance fund. So it is not just an income, it is also a responsibility.” He said that diversification of investment is inevitable as concentrating capital in one place increases risk. Putting all money in one ‘basket’ increases risk. Diversification is reducing risk through different ‘baskets’, which Nepal Life has embraced today.
Kamlesh Kumar Agrawal, a member of the company’s board of directors, said that Nepal Life Insurance has been established as the best insurance company in the country over the past 25 years, and that the contribution of everyone from investors to insureds and employees has brought the company to this position.
Subash Thapa, Chief Executive Officer of Nepal Life Investment Company, said that the company’s primary objective is to provide high returns by protecting Nepal Life’s investments.
We will create good value by prioritizing the protection of principal in a prudent manner based on internal and external evaluation,” He said.
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