SuryaJyoti Life Insurance Ltd. 2.7.8

SuryaJyoti Life represents a significant milestone in Nepal's insurance industry, resulting from the historic merger of two established life insurers, Surya Life Insurance Co. Ltd. and Jyoti Life Insurance Co. Ltd. This joint operation commenced on December 22, 2022, and has since positioned SuryaJyoti Life as one of the country's largest life insurance providers, characterized by a robust capital base, extensive total investments, a substantial life fund, and an expansive network of branch outlets and agents.

With over 15 years of operational history, Surya Life was a prominent player in the market, demonstrating aggressive expansion of its distribution channels across Nepal while capturing a significant market share. In contrast, Jyoti Life Insurance, though having only five years in the industry, quickly distinguished itself as one of the fastest-growing life insurers by offering unique products and building a solid operational foundation capable of processing high volumes of business while effectively managing associated risks.

Currently, SuryaJyoti Life operates more than 200 fully equipped branches that provide a comprehensive range of services to policyholders and agents. The company is ISO 9001:2000 certified, ensuring adherence to international standards for effective management practices. Furthermore, it boasts distinctive product offerings within Nepal's life insurance sector, including extensive Critical Illness Coverage that encompasses 35 critical illnesses with coverage limits of up to NPR 5 million.

In terms of risk management, the company has established strategic partnerships with reputed reinsurers including NepalRe, Himalayan Re, and HannoverRe. As Nepal's largest reinsurer with significant government ownership, NepalRe enhances SuryaJyoti's capacity to diversify its risk exposure. HannoverRe is globally recognized as one of the top reinsurers, further securing SuryaJyoti's risk management strategies through this alliance.

Operational efficiency is supported by SiddhiLife software at the core of its operations. Additionally, SuryaJyoti has developed various auxiliary services such as an innovative mobile application rich in features, comprehensive reporting tools, online payment integrations, and a workflow tracking platform that monitors turnaround times. The implementation of AI-driven Chatbot technology enhances query management while an efficient call center retains customer engagement history.

The company's diverse promoter group comprises individuals from manufacturing, trading, and financial sectors who bring substantial brand value and presence to SuryaJyoti Life.