Rastriya Beema Sansthan (Pvt. Ltd.) was established with the investment of the Government of Nepal on Poush 1, 2024 BS, and the business of non-life insurance business was started on Falgun 11, 2024 BS. After the enactment of the Rastriya Beema Sansthan Act in 2025 BS, it was transformed into Rastriya Beema Sansthan.
In accordance with the provision in the Insurance Act, 2049 BS that life and non-life insurance business cannot be run by the same organization; Rastriya Beema Sansthan Limited has established on 28 Jestha 2071 BS as per the decision of the Government of Nepal to run the Rastriya Beema Sansthan, Department of Non-Life Insurance from a separate entity. The company has been operating a non-life insurance business on Shrawan 18, 2071 BS by obtaining a non-life insurer's license from the Insurance Committee on 27 August 2071 BS. It is entering its eighth year after completing its seventh year as a company.
Rastriya Beema Company Limited is the only non-life insurance company owned by the Government of Nepal. The company has been providing various insurance services to various ministries and agencies of the Government of Nepal, public institutions, private business establishments, and the general public for the past 54 years with the objective of mobilizing the economy through mobilization of internal resources and resources, minimizing financial risk through insurance services and reducing foreign exchange expenditure.
As a result, the company has a leading role in the development and expansion of the Nepali insurance market. The trust and confidence of the government, private sector establishments, and the general public has been able to grow the business despite competition with private sector insurance companies due to its professional and customer-oriented working style and high level of service delivery in line with the wishes and aspirations of the insured.
In order to achieve sustainable economic development by reducing the economic risk by expanding access to insurance in Nepal, the company is engaged in the campaign of building a prosperous Nepal by bringing government and private property and industries and businesses under the scope of insurance.
It has been providing financial security through insurance in the areas of construction of physical infrastructure, government and private property, agriculture and animal husbandry, damage to public health, and other potential economic risks arising from accidents and natural calamities.
Property insurance for the protection of physical property of the government, private sector, and general public, engineering insurance for infrastructure development, natural disaster risk protection for natural disasters, mass accident insurance, health and medicine insurance for public health protection, agriculture, animal husbandry, and protection of farmers and low-income people. The company is always ready to provide micro-insurance, air, marine, motor, and other insurance services.
The long-awaited audit work has been given high priority. As a result, after completing the audit of the Fiscal Year 2068/09 and sending the financial statements to the Insurance Committee for approval, the approval of the financial statements for the three years up to the Fiscal Year 2070/71 has been received and the remaining two years are in the process of approval.
The preliminary audit report of the company for the fiscal year 2073/74 has been received from the auditor appointed on the recommendation of the Auditor General and the final report is being received.
The work of external audit of FY 2074/75 and FY 2075/76 has reached its final stage.
