Non-life Insurance Companies Register 11 Per Cent Profit

In the last fiscal year 2011/12, the non-life insurance companies have earned 11 per cent net profit out of the total insurance premium collected. "Out of total Rs 6.73 billion insurance premium earned, non-life insurance companies made a profit of Rs 728.6 million. It is a good profit and companies who have managed their managerial cost well have made encouraging profit,” said Binod Aryal, Executive Director of the Insurance Board (IB).

In the last fiscal year, Sagarmatha Insurance (SI) made the highest profit among non-life insurance companies. SI made a profit of more than 20 per cent of its total insurance premium collected. The company earned Rs 641.9 million out of which its profit amounted to Rs 131.7 million.

Bharat Basnyat, CEO of the company said the managerial cost of the company is less than nine per cent of the total insurance premium collected and that enabled the company to make high profit.

According to the IB, the profit of non-life insurance companies has been increasing since the last two years. In fiscal year 2010/11, these companies’ profit increased by 16 per cent compared to the previous fiscal year. Likewise, in fiscal year 2011/12, the profit increased by 33 per cent compared to the fiscal year 2010/11.

In fiscal year 2011/12, the profit of non-life insurance companies increased by 33 per cent compared to the fiscal year 2010/11.

JCB Operator Meet in Dhangadhi

M.A.W. Enterprises Pvt Ltd JCB Division, a sole distributor of JCB construction and heavy equipment, organized an “Operator Meet” in Dhangadhi on 3 October. “The main objective behind this event is to educate and update operators about proactive maintenance,” said the Marketing Manager of JCB Division. He added, “This type of training is beneficial to operators and machine owners as well.”

Operators were educated and made aware about operating machine safely and in a trouble-free manner so that they can increase the life of their machines. They were also educated about taking care of their machines in order to minimize the unforeseen breakdowns arising in the future. Benefits of using genuine parts against spurious parts were also shared with the operators.

IME Haasya Yatra

IME's direct marketing campaign "IME Haasya Yatra...Byroad ko Batoma" organized in association with Global IME Bank in promotion of Indo- Nepal remittance service continued in western Nepal in the month of October as well. The Roadshow with popular comedians Deepak Raj Giri and Deepa Shree Niraula showcased their performances in Salyan on October 1st, Tulsipur on October 2nd, Surkhet on October 3rd, Nepalgunj and Gularia on October 4th, Dhangadi on October 6th, Dadeldhura and Baitadi on October 7th, Mangalsen on October 8th, Sandikharka and Tamghas on October 11th, Tansen on October 12th, Syangja on October 13th, Baglung on October 14th and finally in Damauli on October 15th.

JMT and Norvic Host World Heart Day 2012 Programme

Jayanti Memorial Trust (JMT) and Norvic International Hospital hosted a World Heart Day 2012 programme on 29 September. JMT has been actively contributing to the nation’s social service sector from the past decade by sponsoring treatment for less fortunate cardiac patients, raising public awareness on cardio and cardiac diseases, conducting free heart camps for the screening of any possible prevalent cardio or cardiac diseases and Continuing Medical Education (CME) for the national cardiologists with the support from International experts.

Apart from counseling and providing guidance to less fortunate cardiac patients at Gangalal National Heart Centre and Manamohan Cardio Thoracic Centre through its social service room, JMT has also collaborated with various organization and institution such as Banks, Hotels, Hospitals, Alumni etc in building awareness regarding various forms of cardio and cardiac diseases, through screensavers, awareness posters and radio jingles. JMT has been conducting programs on the occasion of the World Heart Day with Norvic International Hospital in the past as well.

Standard Chartered Celebrates World Sight Day

mark World Sight Day 2012, Standard Chartered Bank Nepal Limited organised various initiatives aimed at building awareness among the people. World Sight Day is celebrated annually on the second Thursday of October to raise awareness of visual impairment. The Bank is also in the process of entering into agreements with Tilganga Institute of Ophthalmology (TIO) and other Eye Hospitals to sponsor cataract surgeries targeting underprivileged and economically backward people of Nepal.

Earlier, with a view to reinforce the Seeing is Believing agenda in Nepal, Standard Chartered Group had extended a financial assistance of US$ 1.1 million for construction of Biratnagar Eye Hospital in Biratnagar under the Eastern Region Eye Care Programme. SCB Nepal, in the year 2011, signed an agreement with TIO to sponsor 1,000 cataract surgeries between 2011/12. SCB Nepal has so far been instrumental in restoration of sights of over 6,000 poor and underprivileged people since the launch of the campaign in year 2003.

‘Seeing is Believing’ is a global initiative to help tackle avoidable blindness, and is a collaboration between Standard Chartered and the International Agency for Prevention of Blindness (IAPB). To date, Seeing is Believing has raised over US$ 50 million for blindness initiatives and plans to raise a further US$ 50 million by 2020. Seeing is Believing is the single largest contributor to the development of Vision 2020 programmes through IAPB. As part of the Seeing is Believing programme, Standard Chartered pledges to match all donations until the target of US$ 100 million is reached.

Yamaha Safe Riding Science

Yamaha organized ‘Yamaha Safe Riding Science (YSRS)’ at Kings College, Babarmahal on Oct 1. More than 60 students participated in the workshop. The objective of the one-day program was to increase road safety awareness for bike riders through theoretical and practical sessions by trained YSRS instructors. Students were informed about causes of accidents, precautions to take while riding, proper riding posture and other similar issues.

Standard Chartered Bank Awards Scholarships

In line with the Bank’s focus on youth and education, Standard Chartered Bank Nepal found an good opportunity through VISCOSS – Nepal (Village School-College Students Scholarship Project – Nepal), to reach the village schools and be able to support the deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. The Bank has been providing scholarship to 15 deserving students of this school since 2002 and it awarded the scholarships to meritorious students for academic year 2068/69.

Diwakar Poudel, Head of Corporate Affairs of the Bank, gave away the scholarships at a function organized at the school. Dipak Kafle, the District Education Officer, was also present on the occasion and gave away other various prizes to students during the function. Speaking on the occasion, Poudel congratulated the recipients of the scholarships and encouraged them to grow up to be responsible citizens of the country. He also assured the school to provide other feasible support in the coming year. The Bank earlier had provided the school with 20 units of computers for facilitating computer education to the students. The Principal of the school thanked the Bank and VISCOSS Nepal for the support being provided to the school and the children.