11th February 2025, Kathmandu
On Magh 28, 2081 (February 10, 2025), Nepal Life Insurance, the country’s leading life insurance provider, held its 25th Annual General Meeting (AGM) at Hotel Bhishwa, Birgunj, Parsa.
Nepal Life Insurance AGM 2025
The meeting was chaired by the Chairman of the Board, Mr. Govinda Lal Sangh. During the session, the company’s Annual Progress Report for FY 2023/24 was presented and approved. The shareholders also discussed and approved key financial documents, including the balance sheet, profit and loss account, and cash flow statement for the same period.
Key Initiatives and Growth Strategy
Chairman Mr. Sangh highlighted the company’s commitment to structural improvements and corporate governance. He emphasized the need for a balanced approach to managing assets and liabilities and a focus on customer-centric services.
The company aims to enhance its service quality by adopting new technologies and improving internal controls. He also announced the company’s efforts to implement automation and work towards a digital transformation to streamline processes and improve customer experiences.
Focus on Stakeholder Engagement
Mr. Sangh expressed his gratitude to the shareholders, employees, and customers for their continuous support. He acknowledged the valuable feedback from the shareholders and assured them that it would be taken positively. The company’s success, he said, is a result of the consistent support from government agencies and regulatory bodies like the Nepal Insurance Authority and the Ministry of Finance.
CEO’s Address: Turning Challenges into Opportunities
CEO Mr. Pravin Raman Parajuli discussed the challenges faced during FY 2023/24 and how the company turned them into business opportunities. Despite the tough economic environment, the company achieved remarkable success.
He also revealed plans to celebrate the company’s 25th anniversary on Baisakh 21 (May 4, 2025) with various events to engage with stakeholders. He noted that the company’s investment diversification has been key to its growth, with land acquisitions made in different cities for future expansion.
Strong Financial Performance
In October 2024, Nepal Life Insurance reported an impressive investment portfolio of NPR 215 billion. The company’s life insurance fund reached NPR 208 billion, while the shareholder fund stood at NPR 12 billion. With a network of 195 branches, the company serves a large customer base. It has earned NPR 288 billion in premiums and paid out NPR 84 billion in claims.
Looking Ahead
The company is focused on expanding its services and improving customer experiences. Mr. Parajuli mentioned that new infrastructure projects will soon begin, ensuring continued growth and success for Nepal Life Insurance in the coming years.
For more: Nepal Life Insurance AGM 2025
