" YOUR SECURITY OUR CONCERN "
"YOUR SECURITY OUR CONCERN"
 

OBJECTIVES:

  • Excellent security
  • Efficient services
  • Competitiveness in cost
  • Innovative Products
  • Immediate response to claims
  • Insurance Counseling etc.

MAJOR CLASSES OF BUSINESS:

  • Fire
  • Marine
  • Group & Personnel Accident
  • Motor
  • Contractor's all Risks
  • Engineering
  • Public Liability
  • Aviation
  • Hospitalization Income Policy
  • Travel Insurance
  • Burglary
  • Household
  • Fidelity Guarantee and many others.

ESTABLISHED: 1988
OPERATING LICENSE : JULY 1993
BUSINESS COMMENCEMENT : DECEMBER 1993

MEMBERSHIP

  • Nepal Chamber of Commerce
  • Federation of Nepal Chamber of Commerce & Industries
  • Nepal Britain Chamber of Commerce Industries
  • Management Association of Nepal
  • Nepal German Chamber of Commerce & Industries
  • Insurance Association of Nepal
  SHARE CAPITAL
Authorised
( NRS Million )
Issued & Paid up
( NRS Million )
Ordinary Shares
80
30
 
  BOARD OF DIRECTORS : 9 Members
  A : Promoters : 60% of Share Capital
 
  1.  Mr. Raj Krishna Shrestha
  2. Mr. Binod Krishna Shrestha
  3. Mr. Bikram Krishna Shrestha
  4. Mr. Mahendra Krishna Shrestha
  5. Mr. Prithibi Pandey
B : Public Directors : 40% of Share Capital
  1. Mr. Yogendra Prasad Shrestha
  2. Mr. Binod Ratna Tuladhar
  3. Mr. Mahendra Suwal
C : One nominee from Ministry of Finance, HMG / NEPAL
  1. Mr. Puspa Man Kayastha

Mr. Raj Krishna Shrestha, the Chairman of the Company at present.

  MANAGEMENT TEAM
 
  • Mr. Mahendra Krishna Shrestha, the Managing Director of the Company, one of the Promoters and Member of Board.
  • Well experience supporting staffs with practical insurance experience of up to 30 years.
  • Other staffs with additional qualification of Chartered Insurer. Associate of Chartered Insurance Institute of London and also Fellow of Insurance Institute of India to assist the Managing Director.
TECHNICAL ASPECT:
First Technical Services Agreement with Leslie & Godwin 1993 - 95
  • An International FIRM of Insurance and Reinsurance Brokers with operation in over 100 countries.
  • Renamed as Nicholson & Leslie due to restructuring by the parent company
  • Nicholson & Leslie - wholly owned subsidiary of the AON Group of America whose world-wide assets exceeded US $ 16 Billion.
Second Technical Services Agreement with Swire Blanch Asia, Singapore - 1995 - 98
  • Jointly owned by the Swire Fraser and the S.W. Blanch
  • The Swire Fraser, the International Insurer and the Reinsure Broker and also a member of the Lloyd's of London.
  • The E. W. blanch is one of the leading insurance company of U.S.A.
Mr. Peter L. Simmonds
  • Deputed as an Expatriate General Manager from Leslie & Godwin initially
  • Continued by Swire Group up to 1998.
  • A member of a Chartered Insurance Institute of London
  • Over 30 years of experiences in the insurance industry, more than 50% spent outside of the  United Kingdom including Asia.
  • At present, continued to be a Technical Advisor / Consultant based in London since 1998.
  REINSURANCE PLACEMENT
 
  •  Reinsurance Placement in the Global Reinsurance Market with first class security and virtually unlimited capacity on company's behalf under Technical Services Agreement.
  • From now onwards the Reinsurance Placement will be made by the company itself.
REINSURANCE TREATY
  • GE Frankona, London
  • Allianz AG, Reinsurance Branch Asia Pacific, Singapore, Allianz Group of Germany.
  • Tokio & Marine
The ratings of Reinsurance by STANDARD & POOR as "AAA"
 
FINANCIAL DATA
Shrawan 1st to Ashad 31st (year ended 15 July)
 
NRS IN MILLION
  2000 1999 1998 1997 1996
Gross premium 111.60 70.78 54.31 50.43 27.36
Net Premium 18.43 12.77 10.20 7.95 7.98
Profit before Tax 10.44 6.39 1.37 1.71 0.98
Total Assets 84.18 70.23 50.79 59.17 43.64
Technical Reserves 20.48 12.80 8.73 7.24 5.11