Citizen Life Insurance IPO Issue / Citizenlife Insurance IPO Issue Date

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Citizen Life Insurance Ltd has been proposed 75,00,000 Unit IPO Share (75 Lakh Unit IPO Share)  to the General Public at the rate of Rs. 100 / - equal to Rs 75,00,00,000. Citizen Life Insurance has been  appointed an Issue Manager to the NIBL ACE Capital Ltd. The agreement was signed by Mr. Poshak Raj Poudel, Chief Executive Officer of Citizen Life Insurance Company Limited and Mr. Mekh Bahadur Thapa, Deputy Chief Executive Officer of NIBL ​​ACE Capital Limited.

Allotment Date of Chandragiri Hills | Chandragiri Hills IPO Allotment Date has been fixed


Citizen Life Insurance IPO Issue


Authorized capital Rs. 300 million. The company has already paid Rs. 175 million from the founding shareholders and the amount allocated to the public is Rs. 750 million. In the near future, the paid up capital of the company will be Rs. 250 crore.

IPO Issue Manager of Citizen Life Insurance 

Thus, Citizen Life Insurance Company, which is preparing to issue primary shares, has made this public. According to the unaudited financial statements for the fourth quarter (mid-August) of 2076/07, the company has managed to strengthen its life insurance fund along with its business growth by 164% and total premium income by 69%. The size of reserves and funds also increased by 117% from Rs. 228.6 million to Rs. 496.1 million and the income from investment and insurance policy collateral and other loans increased by 31 percent to Rs. It has succeeded to reach 338.3 million.

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As the investment period in the life insurance business has a direct impact on the company's income, the company has been able to invest about 91% of the total investment and loan amount in long-term bonds and time deposits of various banks and financial institutions by giving priority to long-term investment and loan. The long-term investment made in the past seems to play a direct role in building the foundation for the stability of the company by providing high returns in the future as well.

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Taking advantage of every difficult situation, the company will continue to make its services more customer-centric and technology-oriented in the days to come, including the Digital Citizen Program, Citizen Self-Employment Campaign to make everyone self-employed and various insurance programs to raise student awareness. Through the Citizen Team including leaders, the company has expressed its commitment to provide excellent service while achieving financial and social goals in the future.

ABOUT CITIZEN LIFE INSURANCE LIMITED


CitizenLife is one of the fastest growing life insurance companies in Nepal. It started its operations on October 19, 2017 (Kartik 02, 2074) after Beema Samiti, the Insurance Regulatory Authority of Nepal, awarded it the operation license on August 23, 2017 (Bhadra 07, 2074).

CitizenLife is a 70:30 public limited company with an authorized capital of NPR 3,000 million, issued capital of NPR 2,500 million and is majorly promoted by Kantipur Media Group, Shikhar Insurance, reputed Aviation industries, successful bankers, manufacturing industrialists, CEOs from different Insurance Companies, pharmaceutical companies, finance and investment firms, hospitality and tourism companies, real estate companies and several other reputed representatives from different industries. Currently, CitizenLife is serving its clients through 102 branches in different parts of the country. Its service network is strong and diversified to distribute an extensive range of products. Complying with regulatory laws, CitizenLife has reinsurance arrangement with foreign reinsurer having internationally sound credit rating and Nepal Reinsurance Co. as well as Consulting Actuary based in overseas. CitizenLife focuses on implementing the international global practices of successful companies in the local market as per the local needs, based on the concept of Glocalization. With the use of the latest technology, CitizenLife aims to reach the grass root level and support the families in case of financial difficulty that might occur after the loss of the breadwinner.

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CitizenLife is entirely focused on customer satisfaction and delivering value to its clients/policyholders through innovative insurance plans designed according to the societal needs and also provide an impeccable service. The company brings to you a wide range of protection solutions to help secure your family’s future. Its products are designed to:


* Provide financial support for child’s education
* Provide wealth with protection solutions
* Provide health and wellness solutions
* Provide retirement solutions and savings


CitizenLife helps you stay financially secure and financially independent in the future by just contributing small disciplined savings at regular intervals.

BOARD OF DIRECTORS OF CITIZEN LIFE INSURANCE




NEWS AND LATEST UPDATE




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Location: Nepal

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