New player enters non-life insurance scene in Nepal; Ajod Insurance to vie for market share with existing players

Ajod Insurance, a new player in non-life insurance sector in Nepal has started its operation from Asad 21, 2075. The newly opened insurance company was inaugurated by its chairman Mr. Binod Bista at its corporate office located at CTC Mall, Sundhara, Kathmandu amid a grand function. The company came into being after more than a decade of being registered with the related authorities on Chaitra of 2064.

The insurance company through its SGM held on Baisakh 15, 2074 has made provision of Rs 1 arba as paid up capital out of which 70% belongs to the promoter investors while remaining 30% shares are yet to be floated in the market for the general public.

Ajod Insurance has 104 promoter investors who represent different professions and sectors. The insurance company has also received its first BOD in which Mr. Binod Prashad Bista has been chosen as its chairman while Mr. Min Bahadur Gurung, Mr. Ajad Shrestha, Mr. Rajendra Prashad Kayasta and Mr. Sagar Gurung into its board. Mr. Kumar Bahadur Khatri who has over 2 decades of progressive experience has been roped in to captain the company from the topmost post of CEO.