Beema Samiti is also known as Insurance Board. It is an autonomous body in Nepal that has been established with the vision of developing, systemizing, regularising and regulating the insurance business of Nepal. Beema Samiti was established under the Insurance Act, 1992.

Beema Samiti has a vision of long term development of the nation’s economy through developed, systematic, regularised and regulated insurance business. The board intends to develop healthy competition and reliability in the insurance business.

The board is dedicated to the formulation and amendment of insurance policies. Moreover, it also works to preserve the insurance rights of the public. The board aims to make insurance protected, transparent, reliable and competitive. Beema Samiti is continuously developing and promoting the insurance business.

Beema Samiti circulates various updates and information through circulars, paper media as well as websites to aware the public about the trends in practice in the insurance business. The board regularly trains its workers to make sure the public gets reliable and easy service.

nib.gov.np with toll-free number 1660-01-56789 is a Beema Samiti Insurance Board of Nepal. Beema Samiti (Insurance Board) contact address is at Kupandol, Lalitpur with a Phone number of +977-1-5528618, +977-1-5538743, +977-1-5521079 and Fax number of 977-1-5520119.

List of insurance companies in Nepal

Here are some of the life insurance companies of Nepal that are the members of Beema Samiti and provide insurance service to the public under the governance of the board:

  1. National Life Insurance Company Limited
    P.O. Box: 4332, Lazimpat, Kathmandu, Nepal. Tel: 977-1-4414799, 4416556, 4414803, 4435636; Fax: 977-1-4435633
  2. Nepal Life Insurance Company Limited
    Heritage Plaza-1, 2nd Floor, Kamaladi, Kathmandu
    01-4169082, 01-4169083, 01-4169085
  3. Life Insurance Corporation (Nepal) Limited
    House No-723, Bhagwati Marg Naxal Bhagawatibahal, Kathmandu
    (100 meters east from the Temple of Naxal Bhagawatibahal ),
    Nepal Po Box No: 21905, Kathmandu
    Ph No: 00977-01-4443616, 01-4443617, 01-4442761 Fax: 01-4437601
  4. American Life Insurance Company Limited
  5. Asian Life Insurance Company Limited
    ASIAN LIFE BHAWAN,
    Kathmandu Ma.Na.Pa Ward No 33, Maitidevi
    Phone: 977-1-4410115
    Fax: 977-1-4442138
    Post Box No 25943
  6. Gurans Life Insurance Company Limited
    Shree Raj Bhawan, Tinkune, Kathmandu, Nepal Toll-Free: 1660-01-44400 Hunting Line: 01-5199310 Fax:01-5199061
  7. Surya Life Insurance Company Limited
    Sano Gaucharan, Kathmandu, Nepal
  8. Prime Life Insurance Company Limited
    P.O.Box No: 25979
    Hattisar Kathmandu, Nepal
    Tel: 00977-1-4441414
    Toll-Free: 16600144455
  9. Rastriya Beema Sansthan
    Rastriya Beema Sansthan, Ramshahpath, Singa Durbar, Kathmandu, Nepal (beema.com.np)
    Phone: 977-1-4262520
    Fax: 977-1-4262610

Beema Samiti Board formation

beema samiti board

Beema Samiti has a board of members handling their roles and responsibilities.

Under the insurance act 1992, the formation of insurance board Nepal is as follows.

  1. Chairman is nominated by Nepal Government.
  2. Member is a representative from the Ministry of Law, Justice and parliamentary affairs.
  3. Member is a representative of the Ministry of Finance.
  4. Member is a person who has a strong knowledge of Insurance (nominated by Nepal Government).
  5. Member is a person who is nominated by the Government of Nepal from people among the insured.

Recent Board Members of Beema Samiti

The new chairman of Beema Samiti

  • Chiranjibi Chapagain
    Chairman
  • Dhanraj Gnyawali
    Member
    Joint Secretary
    Ministry of Law, Justice and Parliamentary Affairs
  • Ganesh Prasad Pandey
    Member
    Joint Secretary
    Ministry of Finance
  • Sugat Ratna Kansakar
    Member
    General Manager
    Nepal Airlines Corporation
  • Kapil Dev Oli
    Member

The officers responsible for the function of Beema Samiti are as follows:

  • Shreeman Karki
    Director
  • Raju Raman Paudel
    Director
  • Kamal Prasad Regmi
    Director
  • Sushil Dev Subedi
    Deputy Director (Administration)
  • Kundan Sapkota
    Deputy Director (Administration)
  • Dhruba Timilsina
    Deputy Director (Administration)
  • Raj Kumar Aryal
    Deputy Director (Administration)
  • Pujan Dhungel Adhikari
    Deputy Director (Administration)
  • Dinesh Kumar Lal
    Deputy Director (Administration)
  • Shaba Raj Lamichhane
    Deputy Director (Administration)
  • Nirmal Adhikari
    Deputy Director (Administration)
  • Keshav Prasad Dahal
    Deputy Director (Administration)
  • Lok Bahadur Adhikari
    Assistant Director
  • Kusum Sharma
    Assistant Director
  • Om Bahadur Adhikari
    Assistant Director
  • Laxmi Dhakal
    Assistant Director
  • Punam Gyawali (Shrestha)
    Assistant Director
  • Pradip Gautam
    Assistant Director
  • Nisha Ghimire
    Assistant Director
  • Birodh Bhatta
    Assistant Director
  • Rajendra Maharjan
    Assistant Director
  • Manju Thapa
    Assistant Director
  • Padam Prasad Sodari
    Assistant Director
  • Dhurba Gnawali
    Assistant Director
  • Shambhu Prasad Mishra
    Assistant Director
  • Sunita Kumari Karki
    Assistant Director
  • Purna Bahadur Thapa
    Assistant Director

Beema Samiti Contact Details

Beema Samiti (Insurance Board)
Kupandol, Lalitpur
Phone: +977-1-5528618
+977-1-5538743
+977-1-5521079
Fax: +977-1-5520119
Toll-Free No: 1660-01-56789
Beema Sansthan Website: nib.gov.np
Beema Sansthan Email: [email protected]

Beema Samiti Insurance Board of Nepal

The Insurance Regulatory Authority of Nepal is Beema Samiti Insurance Board. The Parliament has made this Act on the regime of HIS MAJESTY KING BIRENDRA BIR BIKRAM SHAH DEVA in the 21st year. According to the Insurance Act, 1992 the insurance board helps to systematize, regulate, develop and regulate the insurance business in the country.

In the Federal Democratic Republic of Nepal, they look after all the insurance-related activities. To create a professional, healthy and developed insurance market is the main concern of the board as being a regulatory body. The insurance environment began to fluctuate after the restoration of Democracy in 1990. 

Insurance Act, 1968 was repulsed by the new Insurance Act, 1992 i.e Beema Ain, 2049 to meet the changing environment. The introductory part clearly defines the purpose of the Act. As the different purposes of Act are to establish an Insurance Board to systematize, regularize, develop and regulate the insurance business. Beema Samiti acts as an autonomous body of the Insurance Act of 1992 in order to achieve the introductory goal.

The different members of the Beema Samiti are Mr. Chiranjibi Chapagain, he is the chairman of the board, Mr. Raju Raman Paudel is the officiating Executive Director of the board, and Mrs. Pujan Dhungel (Adhikari) is the Deputy Director or information officer of the board.

The Life insurance Business, Non-Life insurance business as well as Re-Insurance lies under the insurance business. As there are a different life and non-life insurance policy found in Nepal.  

As there are different insurance companies for providing both life and non-life insurance in Nepal. There are different schemas or plans for both life and non-life insurance policy according to the scheme that insurance company provides you can do the insurance of your own, vehicles, building, companies and many others. As every company would have a better record of claim resolutions.

They may provide different distinctive plans which satisfy their customer’s needs. An insurer can’t be judged by the amount of premium i.e. high premium or low premium or comparison to the premium rate on the ratio of the sum assured amount offered.

The individual should look after the policy which will be helpful for them in the emergency, as which may financially and non-financially help at the time of need as well as which may help your family when you are not with them at the emergency. Before you involve in a life insurance policy you should have mind make up for the lifestyle changes, a rate of inflation, and economy standards.

Writing about Beema Samiti Insurance Nepal background, Beema Samiti (Insurance Board) is regulated by the Ministry of Finance, Nepal. Beema stands for Insurance and Samiti stands for Board which combined forms Insurance Board. The main aim of the Beema Samiti Insurance Board Nepal is to create a professional, healthy and developed insurance market in Nepal.

beema samiti

Insurance Board is established under the insurance act in 2049 and is an independent institution. Official journal (Insurance News and views) is published thrice a year. Journals can be download from the official website of Beema Samiti Insurance Board Nepal is nib.gov.np.

beema samiti constitution

Beema Samiti Insurance Board Nepal has been the supreme authority in Nepal for managing Insurance business.

The different function duties and power performed by the board are as follows,

  • The Insurance board helps the insurers to set the procedures to invest their funds and to advise the priority sector for their investment.
  • They also help insurer, insurance agent, broker so on to get Renewed and registered as well as they can cancel the registration and the cause for cancellation.
  • As there may arise the complaint will be handled by the board and made a decision according to the complaint done by the insurer in accordance with the settlement of liability of insurance.
  • For the protection of interest of the insured, they help to formulate the necessity of basis. the different important functions of insurance business are performed
beema samiti functions

Rastriya Beema Samiti vacancy

Rastriya beema samiti has announced vacancy for two IT officers (assistant manager) and one Health Assistant. The IT officer will be of the 6th level and he/she must have recognized degree of BE computer or BSC computer Engineering or graduation in Electronics and Communication. The candidate must be of 21 to 35 years old, while for female the maximum age limit is 40 years old. The HA level is of the 5th level. He/She must have recognized qualifications related to HA. (October 23, 2020)