Prabhu Insurance focuses on minimising risks, strengthens governance: Chair Malla

KATHMANDU: Prabhu Insurance Chairman Rajendra Malla said the company has given special attention to minimising risks identified in the insurance sector and has strengthened corporate governance and internal control systems.

Speaking at the company’s annual general meeting (AGM) in Kathmandu on Wednesday, Malla said Prabhu Insurance has formulated both short-term and long-term strategies aimed at sustainable success. He emphasised the role of technology, stating, "Information technology is the cornerstone of modern insurance and the primary basis for customer satisfaction."

Chairan Malla said the company has adopted a policy to provide fast and easy services by using appropriate technology to make information technology strong and reliable. "With the objective of becoming an excellent and reliable insurance company and to fulfil the slogan 'Insure with Prabhu, Stay Confident,' the company has emphasised business growth, human resource development and modernisation, career development and training of employees, corporate governance, risk management, full compliance with policies and procedures, and branding," he added.

Noting that employees are the main foundation of the organisation, Malla said measures such as appropriate training and incentives have been adopted while strengthening employee management. He said the company has adopted a result-oriented policy for business growth and has continued to control unnecessary expenses except for those that are essential.

Chairman Malla highlighted recent recognition for the company, saying Prabhu Insurance won awards in two categories at the sixth Emerging Asia Awards organised by the Indian Chamber of Commerce in Bangkok, Thailand.

Amid a challenging environment for returns in the insurance sector, the chairman said the company distributed 9.1579% of current paid-up capital from profits for fiscal year 2024/25 — comprising 8.7% bonus shares and 0.4579% cash dividend for tax purposes on bonus shares — amounting to Rs 155,771,753.