Suryajyoti creating history of successful mergers in the life insurance sector

KATHMANDU: After the merger of Surya Life and Jyoti Life, it has made a bright start by launching the joint business today from 7th Poush (Dec 22) 2079. The two companies, which signed the merger agreement on Ashar 12 (June 26), today, on Poush 7 (Dec 22), launched a joint business in the name of Suryajyoti Life Insurance Company.

With the business being done in the name of Suryajyoti Life Insurance Co., Ltd., the registered office of the company is in Biratnagar and the central office has been decided to be at Shantaplaza Dnyaneshwar. Keshab Prasad Bhattarai has been elected as the chairperson of the company and Prakash Bikram Khatri has been appointed as the Chief Executive Officer and Pawan Kumar Khadka as the Deputy Chief Executive Officer.

After the merger, the total paid-up capital of Suryajyoti will reach Rs. 4.54 billion and the total investment will reach more than Rs. 28 billion. In addition, the total life insurance fund of the two companies up to the first quarter of 2079/80 will be Rs. 22 billion, the total insurance premium will be more than Rs. 2.27 billion and The profit reached Rs 42 crore.

In the insurance sector, Surya Life was presenting itself as a comprehensive company by providing remarkable services for more than a decade, while Jyoti Life was known as a strong company by providing reliable services within a short period of its establishment.

As of today, the total number of employees of the company is about 700, the total number of agents is more than 75000, and the number of products is 15, serving more than 1.3 million insured people from 181 branches in seven states across the country.

Surya Jyoti has become the second largest company after the merger and is excelling in every indicator by resolving all the difficulties encountered during the merger one after the other by mutual agreement.

Prakash Bikram Khatri, Chief Executive Officer of Surya Jyoti Life, informed that Surya Jyoti Life has now emerged as a larger, stronger and bigger company after the historic successful merger of two companies providing services as Surya Life and Jyoti Life Insurance.