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NIC Asia Bank and Union Life Insurance company, linked for bank insurance

(Last Updated On: August 2, 2018)

Recently, two companies named NIC Asia and Union Life Insurance Company have collaborated with each other for bank insurance. The CEO of both the banks have signed an agreement between them. As Mr. Roshan Neupane and Mr. Manoj Kumar Lal Karna are the CEO’s of NIC Asia bank and Union Life Insurance company respectively.

The agreement is all about purchasing policy of Union Life Insurance through all the 233 branches of NIC Asia which can be done by any of the customers. Also, the can perform premium payment.

About NIC Asia Bank:
Talking about NIC Asia Bank, it has got 233 branches, 222 ATM booths, 14 extension counters and 15 branchless banking service providers throughout the country. Similarly, the deposit of the bank have reached to R’s 151 billion, total debt around 121 billion and the number of customers is around 11 lakh 75 thousands of NIC Asia. This bank was established on 21st July 1998. It was changed from NIC Bank to NIC Asia Bank after merging with Bank of Asia Nepal on 30th June 2013. This was one of the historic merger of the country as both of them were two successful commercial banks of the country and hence, NIC Asia has also become the successful commercial bank of Nepal.
It also got a title “Bank of the Year 2013-Nepal” after the merge by The Banker, Financial Times, UK. This was the second time when the bank got this prestigious award as the first time was in 2007.

About Union Life Insurance Company Ltd. :
This company was first established and registered under Company Act 2063 and Insurance Act 2049 in the year 2074 B.S (Regd. No. 168131/73/074), which is a Public Limited Company and also got a license to operate Life Insurance Business on 2074/03/20(04/07/2017). It has been established with sole Nepalese Capital and consists of renowned & big promoters named Jagadamba Group, Golchha Group, Gadiya Group, Naupane Group, Rajesh hardware & Tibrewala Group. This company supplies all kinds of life insurance policy service as per the international standards level. It also develops and contributes to society as well as financial sectors for the development of the nation. It provides maximum benefits to policyholders & stakeholders by expanding its networking services in the international market.

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