Beema Samiti (Insurance Board) is the Insurance Regulatory Authority of Nepal which is under Ministry of Finance, Government of Nepal. The word ‘Beema’ means ‘Insurance’ and ‘Samiti’ connotes ‘Board’. Hence, the Word ‘Beema Samiti’ is synonymous to Insurance Board which is constituted to systematize, regularize, develop and regulate the insurance business within the country under Insurance Act, 1992. This Samiti (Board) looks after all the insurance related activities in the Federal Democratic Republic of Nepal. 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. As a regulatory body, the Board’s main concern is to create a professional, healthy and developed insurance market in Nepal.
Consequently 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
