Prudential Insurance Co. Ltd. has been promoted by some of the leading business houses of Nepal with Vishal Group taking the lead role. Its capital base of Rs 100 million (of which Rs 20 million has been reserved for public issue as per statutory requirement) is the highest among any general insurance company within Nepal. It began operations in June 2002. The company is headed by a CEO who has over 30 years of experience in general insurance markets in India and abroad with exposure to all facets of insurance business and general management. The operating staff is a team of wellexperienced and technically sound insurance personnel with the ability to handle underwriting, claims and other technical matters.
To meet the growing requirements of customers in today's competitive environment, Prudential Insurance has been constantly upgrading its portfolio. The company is constantly introducing new and innovative products for the Nepalese market, apart from providing all traditional products. The company has been successful in developing relationships with some of the best reinsurers in the world. The team of reinsures are led by General Insurance Corp. of India along with Sumitomo Marine (Japan), Arab Re, and Kuwait Re, to name a few. To cater to the needs of customers, the company plans to quickly establish a network of branch and liaison offices across Nepal. The company already has branches in Biratnagar and Birgunj and plans to open branch offices in Butwal/Bhairahawa, Pokhara and Nepalgunj are in progress.