NLIC, is established under the company act 2053 and insurance act 2049 as the public limited company on 2058/1/21 (04/05/2001). It is the first company that only deals with life insurance in Nepal and is solely invested by Nepalese citizens.
The founders of the company are the well known businessman of Nepal, so the financial situation of the company is always stable. The main share holders of the company are related with the well known Triveni Group of Nepal.
The company has an authorized and issued capital base of Rs. 30 Crore. 80% of the issued capital i.e. Rs. 24 Crore has been fully paid up by promoters. The remaining 20% shares for Rs. 6 Crore have been paid by general public.
Till Asad 2065 the company has 1,62,877 insured in the company worth Rs. 1,634 Crore. As per Insurance Committee (Bima Samita) rule, the company has already invested 232.65 Crore of its capital. The company has insured itself with well-know reinsurance company "Hannover Re Life Reinsurance Company", Germany.
Being in the business of selling life insurance it is performing the same job as the other insurers dealing with "Life Insurance". However, Nepal Life Insurance Company has its own identity because of the mission and manner for which it is working. The company is working with a time bound strategy to fulfill it's vision of spreading message of insurance to every home and to contribute substantially in making Nepal an economically healthy and vibrant nation. Apart from spreading the network of branches all over Nepal the company plans to make a quantum jump in number of agents and to provide them adequate training for providing knowledge and skill, so that the company can reach and depth in the market.
Life Insurance being a service industry the company is focusing on providing services which can be considered of International Standard. Our ambition is to provide across the counter services in all its operations.
This ambition cannot be fulfilled without the help of information technology. The company has computerized most of its jobs from inception. In due course of time, all its Branches will be connected through wide area networking so that the customers can have access to policy servicing from anywhere.
To endeavor through the noble institution of Life Insurance in making every family economically safe and secure whereby every citizen of Nepal may contribute his might in building a healthy, prosperous, strong & Vibrant Nation. To cater to financial and Social needs of every segment of society by designing differentiated and innovative insurance instruments. To provide after sales service to customers that can be hailed as the best.
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