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Insurance
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Sagarmatha Insurance Company
GPO Box 12211
Thapathali, Kathmandu
Tel: 240896
Nepal Insurance Co. Ltd.
GPO Box 3623
Kamaladi, Kathmandu
Tel: 221353
National Insurance Co. Ltd.
GPO Box 376
Tripureswor, Kathmandu
Tel: 221182
Life Insurance Corporation
American Life Insurance Company
Nepal Life Insurance Company
Prudential
Insurance Company
Himalayan Gen. insurance
GPO Box 148
Durbar Marg, Kathmandu
Tel: 226634
Premier insurance
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News item 14-3-2007 |
Bowing down to the intense
pressure coming from
clients, Life Insurance
Corporation (Nepal) has
agreed to raise bonus rates
from an average 4.3 percent
it declared recently. “The
revised rate will be decided
once the actuary conducts
valuation of the latest
financial position of the
company,” said an Insurance
Board (IB) official, quoting
the LIC Nepal's statement.
American Life Insurance
Company (Alico), the other
company to which the
regulator directed to
announce bonus at a flat
rate of 5 percent, however,
has continued its silence on
the matter. The regulator,
IB, had intervened in those
companies after their
announcement of
less-than-committed return
rates created furor in the
market. Both these
companies, apart from Nepal
Life Insurance Company had
marketed their life
insurance products at 6.5
percent bonus return. But
contrary to the promise, LIC
Nepal decided to give bonus
in average of 4.3 percent.
Alico also decided on bonus
rates of 2.5 percent (in
case of surrender) and
additional 2.5 percent (in
case of maturity of the
policy). The decision
instantly slashed clients'
bonus receipt after 15 years
by some Rs 30,000 per Rs
100,000 than what the
companies committed while
selling the products. “The
LIC Nepal has responded to
the IB's prescription and
has initiated steps to
valuate the latest financial
position to review the
rates,” the IB source told
the Post. The company has
sought IB's approval for the
appointment of an actuary.
It, however, is yet to
publish rates in at least
three national dailies to
make the bonus rates public,
which was the other
directive of the IB.
Other insurance news and
articles:
Nepal
to have reinsurance
(5-4-2007)
Rastriya Beema Sansthan
(Insurance company) asked to
innovate (25-2-2007)
Imperial Finance to
issue shares
(6-2-2007)
Insurance a basic need
car
vehicle insurance prices go up
best information
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