Rastriya Beema Company Limited, which is owned by the Government of Nepal, has been established to do non-life insurance business separated from Rastriya Beema Sansthan. The company has been operating non-life insurance business since Shrawan 18, 2071 BS. The company has been carrying out its business activities with the objective of providing financial security to the potential financial risk of life and property through non-life insurance, supporting the economic development of the country by mobilizing internal resources and means and reducing the foreign exchange burden.
With a 53-year history and experience in the non-life insurance business, the company has been able to grow its business with the trust and confidence of the government, private sector establishments and the general public, despite high competition with private sector insurance companies. I would like to express my heartfelt gratitude to the Government of Nepal, the regulatory body, the insured, the agents, the shareholders and all the other stakeholders for their support and trust in the company for its continuous support and progress.
The company has a dual responsibility to provide public services through its programs in coordination with government policies and programs and to make a profit by competing with private and foreign companies. The company is actively involved to increase market share and market access by coordinating and collaborating with government agencies, institutions and financial institutions, business establishments and insurers to establish a company in a competitive market with the latest thinking and technology, increase investment returns through investment diversification, sustainability and security, to make the service delivery faster, quicker and simpler through institutional good governance, financial transparency, organizational reform and development and use of latest technology. According to the nature of the business, the company is constantly working to ensure the continuity of business opportunities and to expand the business through new business areas, finished pending activities and increase efficiency and professionalism by changing the traditional working style. It is believed that such efforts will enhance the company's business efficiency in the future and establish it as a competitive entity in Nepal's insurance market.
The company has been focusing on business growth since its inception and as a result, it has been able to make a profit by gradually growing the business. I express my commitment to be more active in providing all universal services by expanding the work to the rural level for the development, promotion and expansion of insurance.