Asian Life Insurance Company has got operating license as per Insurance Act 2049 from BeemaSamiti (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.1000 million. Out of which 671.32 million is currently paid up (70% by the promoter and the remaining 30% by the general public.)
There are 77 promoters of the company: 2 institutional and the remaining 75 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 has been 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.
Asian Life has a strong and diversified sales network to distribute an extensive range of products, viz Micro life products, money back, endowment, whole life, Joint Life 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 Scor Global Life Paris, France, which is financially sound reinsurer of international repute. The reinsurer is in the standard and poor's 'AA-' rating category for its financial strength (2015). The outlook is stable.