Nepal Life Insurance Company
Established under the Company Act 2053 and Insurance Act 2049 as a public limited company of May 04, 2001, Nepal Life Insurance Company is the foremost life insurance company established by private sector. More popular with its initials NLIC, the promoters of the company consist of by a group of well known businessmen and business houses of Nepal. The company has progressed well as has set up an excellent business record along with a strong financial position.
It was established with an authorized capital of Rs 100 crore, issued Capital of Rs 50 crore and paid-up Capital of Rs 37.5 crore. It has invested Rs 1132 crore out of its total premium, as per the guidelines of the Bima Samiti. It has insured itself with well-known reinsurance company “Hannover Re Life Reinsurance Company”, Germany for conventional policies and “SCOR Global Life”, France for Term Assurance Foreign Expatriate policies.
The company aims to make every family economically safe and secure so that every citizen of Nepal may contribute their strength in building a healthy, prosperous, strong and vibrant nation. Its purpose is to cater financial and social needs of every segment of society by designing differentiated and innovative insurance instruments and provide the best after sales services to the customers.
Although it works in the field of selling life insurance products like any other insurance companies, NLIC has created its own identity because of its mission and working manners. It is working with a time bound strategy to fulfill its vision of spreading the message of insurance to every home and to contribute substantially in making Nepal an economically healthy and lively nation. Along with opening its branches and spreading its network in various parts of the country, it also aims to produce and train number of agents so that the company can reach the depth in the market. It aims to provide qualitative services that are able to meet the international standard throughout the country. With its aim and services, Nepal Life Insurance Company, NLIC, has been able to become one of the most popular life insurance company in Nepal.