INSURANCE COMPANY IN NEPAL

SECURING THE FUTURE OF PEOPLE IN NEPAL

We realize and respect the critical necessity of planning for the future, which is what prompted us to enter the insurance sector in Nepal. We are promoters of Nepal's two-leading premier life insurance companies, Asian Life Insurance Company Limited and Nepal Life Insurance Company Limited, with the goal of providing life security to all Nepalese residents. With our engagement in Prudential Insurance Co.Ltd, we also provide non-life insurance solutions to individuals. Prudential Insurance Co.Ltd provides a wide range of general insurance solutions to clients from all walks of life. With our engagement in this business, we hope to ensure Nepal's financial future by becoming the top insurance company that provides customer-centric insurance solutions on a continual basis.

insurance company in nepal

Business Highlights

Asian Life Insurance Company Limited
    • Asian Life Insurance Company got an operating license as per Insurance Act 2049 from Beema Samiti (Insurance Regulatory Authority of Nepal) on 27th February 2008 ( Falgun 15, 2064) and started functioning on 3rd April 2008 (Chaitra 21, 2064) with an Authorized Capital of Rs. 5 billion.
    • The company has 93 promoters: 2 institutional and the remaining 91 private promoters. Among the institutional promoters are important Nepalese finance and development banks.

Nepal Life Insurance Company Limited
    • Nepal Life is the foremost life insurance company in Nepal.
    • The company has an authorized capital of Rs.1,000 Crore and a Paid-up Capital of Rs. 549.61 Crore.
    • As of Asad 2077, the business has issued 12,63,436 conventional policies with a total premium income of Rs.11,932 Crore, and 15,26,395 Foreign Expatriate policies with a total premium income of Rs. 437.25 Crore.
    • According to Bima Samiti rules, the business has invested Rs.9,365 Crore of the entire premium collected.
    • The company has insured itself with the well-known reinsurance company "Hannover Re Life Reinsurance Company", Germany.

Prudential Company Limited
    • This public limited company received a license from Beema Samiti to operate a general insurance business.
    • The registered office of the company is at Birgunj, Parsa. It is a Nepalese General Insurance Company with registered offices in Birgunj-4, Parsa, and the corporate office at Kamaladi Complex, Kamaladi, Kathmandu.
    • The company's stock is traded on the Nepal Stock Exchange.

Himalayan Reinsurance Limited
    • Himalayan Reinsurance Limited is Nepal's first private sector reinsurance company, founded in July 2021.
    • It offers support for reinsurance to life and general insurance companies in Nepal and overseas.
      The company's capital structure includes authorized capital of NPR 21 billion (approx. $175 billion), issued capital of NPR 10 billion (approx. $85 billion), and paid up capital of NPR 7 billion (approx. $60 billion).
    • The promoters' share is 70% of the paid-up capital, i.e., NPR 7 billion (approx. $60 million).
    • The primary objective of the company is to provide reinsurance services to domestic and foreign primary insurers and reinsurers. The company may operate and manage insurance pools for various risk groups. The company would carry on reinsurance business under the prevailing Insurance Act, Regulations, and Reinsurance Business (Management and Operation) Directives of Beema Samiti.
    • Ramesh Corp. is among the prominent promoters, including other leading Nepalese corporate houses.
    • Apart from various business houses, promoters also include two of Nepal's top commercial banks, Nepal Bank Limited and Rastriya Banijya Bank Limited, which are primarily owned by the government of Nepal.

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