Insurance is a device which providing financial compensation to those who suffer from misfortune. In other words, insurance is the best means for security to human life and property from various risks.
History of Insurance in Nepal is not long. History shows the introduction of insurance company in Nepal as "Mal Chalani and Beema Company" started in 2004 B.S. It was later converted into “Nepal Insurance and Transport Co. Pvt. Ltd” in 2016 B.S and now named as Nepal Insurance. After the restoration of democracy, An Insurance Board (Beema Sansthan) was established to promote, facilitate and regulate the insurance companies of Nepal. According to Insurance Board there are 25 insurance companies in Nepal. Out of them 16 are non-life insurance companies, 8 are life insurance companies and one both life and non-life insurance company.
History of Insurance in Nepal is not long. History shows the introduction of insurance company in Nepal as "Mal Chalani and Beema Company" started in 2004 B.S. It was later converted into “Nepal Insurance and Transport Co. Pvt. Ltd” in 2016 B.S and now named as Nepal Insurance. After the restoration of democracy, An Insurance Board (Beema Sansthan) was established to promote, facilitate and regulate the insurance companies of Nepal. According to Insurance Board there are 25 insurance companies in Nepal. Out of them 16 are non-life insurance companies, 8 are life insurance companies and one both life and non-life insurance company.
