Welcome to Asian Life Insurance Company Ltd.
Asian Life Insurance Company has got operating license as per Insurance Act 2049 from Beema Samiti (Insurance Regulatory Authority of Nepal)on 27th February,2008 ( Falgun 15, 2064) and started functioning on 3rd April, 2008 (Chaitra 21, 2064).
The Authorized Capital of the Company is Rs. 5 billion. Out of which Rs. 2.01 billion is currently paid up. (70% by the promoter and the remaining 30% by the general public.)
There are 93 promoters of the company: 2 institutional and the remaining 91 individual promoters. Among the institutional promoters, there are prominent finance and development banks of Nepal. Following are the major institutional promoters.
- Mahalaxmi Development Bank Limited, Kathmandu
- Guheshwori Merchant Banking & Finance Ltd., Lalitpur.
The member of the board of directors and other individual investors are leaders in other professions and business, such as banks, insurance companies, financial institutions, private enterprises etc. Some investors are from reputed position holders of ex- government services.
Asian Life is serving the nation through its 140 branch network across the nation. Asian Life is dedicated to maintain the highest level of professional integrity, regulatory compliance and corporate governance. Since inception, the company has focused on policy- holder’s satisfaction. The company is equipped with modern technology to conduct the insurance business in professional manner and is in the position to properly deal with all types of clients and ready to provide excellent service. It offers bonus rate from Rs. 42 to Rs. 87 per year per thousand(as per declared bonus rate of FY 074/75).
Asian Life has a strong and diversified sales network to distribute an extensive range of products, viz Money Back, Endowment, Whole Life, Joint Life,Term Life, Micro Life products etc. The company has also individual face-to-face sales channel for its traditional products. The ambition of the company is to be most trusted life insurance company in the Nepalese insurance market.
Asian Life takes pride in having its own building for its corporate office in Maitidevi, Kathmandu and a land with area of 2-5-0-0.16 (1176.77 Sq. m.) in Naxal, Kathmandu for proposed New corporate building.
Asian Life has reinsurance support from :
- Hannover Rück SE,Hannover, German
- Scor SE, France
- Nepal Reinsurance, Nepal
Hannover Ruck SE is the World’s 3rd Largest reinsurance company. The credit rating of the reinsurer by the Standard and Poor’s AA− (Very Strong), and A.M. Best A+ (Superior). (Updated on 28th February 2020, Ref: https://www.hannover-re.com/199230/ratings).
Scor SE is the world’s 4th Largest reinsurance company and serves more than 160 countries from 38 offices worldwide. The reinsurer’s credit rating in the Standard and Poor’s AA− (Very Strong), and A.M. Best A+ (Superior). (Updated on 8th May 2020, Ref: https://www.scor.com/en/subsidiaries-ratings).
Nepal Re is the only reinsurance company of Nepal. It was incorporated in 2014 AD by the participation of the life and non life insurance companies of Nepal along with the supports from Government of Nepal. Nepal Re is providing reinsurance support to more than 30 countries worldwide.