Rastriya Beema Company Limited is a government owned public limited company (RBCL) formed under decision of Government of Nepal, separate general insurance business of Rastrya Beema Sansthan(RBS) by mobilizing internal resources of Nepal. RBS was established under Act of 2024 and started life and non life insurance business from 23rd February (11 Falgun 2024).
Consequently as on this date the company has been successfully providing returns as per set goals and objectives of Nepal Government in this tenure till today company is contributing revenue without inflecting any additional liability on government. The company has spread company manpower in the insurance sector & has identified itself as a credible insurance sector. The company is established with following capital structure.
Objectives:
• To mobilize internal resources and capital for national development and to check burden of expenses of foreign currency.
• To Minimize risk of property damage through insurance business

Company Profile

Information in Brief

Incorporation

It was established as a private company on 16th December, 1967 (Paush 1st, 2024) and was converted into a Corporation vide Rastriya Beema Sansthan Act, 1968 on 15th December, 1968 (Paush 1st, 2025).

Objectives

The objectives of this Corporation are: To mobilize internal resources and capital for national development, and to check burden of expense of foreign currency.

Inception of Business

The business non-life insurance commenced from 23rd February, 1968 (Falgun 11th, 2024) and the transaction of life insurance commenced from 18th February, 1973 (Falgun 7th, 2029).

Composition

The 7-member Board of Directors with a majority of Government of Nepal including the President bears the following composition:

President

: To be appointed by Government of Nepal

Member

: To be appointed by Government of Nepal

Member

: To be appointed by Government of Nepal

Member

: To be nominated by Nepal Rastra Bank

Member

: To be nominated by Nepal Bank Limited

Member

: To be elected by general shareholders

Administrator

: To be appointed by Government of Nepal

The administrator acts as the executive head of the Corporation and as a member of the Board of Directors. In this capacity, he/she administers the daily functioning of the Corporation as a professional insurance company in accordance with the rules and regulations framed by the Board of Directors, Government of Nepal, and under the provisions of National Insurance Corporation Act and Insurance Act.

Capital Structure and Financial Resources

The authorized capital of the Corporation is Rs. 100 million. Out of this, the paid-up capital towards non-life insurance stands at Rs. 9,95,13,800; while towards life insurance, the paid-up capital stands at Rs. 9.3 million.

Major Functions and Duties
    • To run the business of life and non-life insurance.
    • To conduct and cause to conduct reinsurance.
    • To invest within the State in areas deemed by it to be appropriate and to take necessary steps for recovery and safety of such investment.
    • If deemed to be appropriate, to control any property kept by it as mortgage and to manage such property by itself till the required period of time.
    • To provide loan in the guarantee of movable or immovable property.
    • To raise loan by mortgaging its property deemed to be appropriate for such purpose.
    • To rent out any of its property, to sell or dispose of it in any other manner.
    • To assist in the issuance of shares and debentures of other agencies, to provide guarantee for such, to underwrite and to run agency business.
    • To invest abroad if deemed to be appropriate.
    • To invest in the share capital of other corporate entities.
    • To appoint agents and provide for their commission.
    • To provide guarantee.
    • To purchase share, bond, debenture, letter of credit, movable and immovable property, to give and take discount and commission and to conduct brokerage services.
    • To run any type of businesses beneficial for the Corporation.
    • To work for the direct or indirect benefit and welfare of any national charity, public welfare associations or corporations or to provide surety for such.
    • To manage a fund for the gratuity, provident fund, pension and other benefits for its permanent personnel.
    • To issue debentures and preference shares.