In order to mobilize internal resources and capital for the country’s economic development, to prevent the outflow of foreign currency, and to establish a competent professional insurance company, the Government of Nepal established the Rastriya Jeevan Beema Company Limited (formerly Rastriya Beema Sansthan) on Poush 1, 2024 B.S. as a private company under the Company Act.

The non-life insurance business of the institution was inaugurated on Falgun 11, 2024 B.S. when His Majesty King Mahendra Bir Bikram Shah Dev purchased a motor insurance policy under his name. The first insurance policy proposal was signed on behalf of the insured by His Majesty and on behalf of the institution by its Chairman, Dr. Bhesh Bahadur Thapa.

Initially established as a private company under the Company Act on Poush 1, 2024 B.S., the company was later transformed into a public institution under the Rastriya Beema Sansthan Act, 2025 B.S., on Poush 1, 2025 B.S. While the company began with non-life insurance, it commenced life insurance business only on Falgun 7, 2029 B.S.

The company was operating both life and non-life insurance businesses until the enactment of the Insurance Act, 2049 B.S., which prohibited any single company from operating both types of insurance. As a result, in Jestha 2071 B.S., the institution was formally divided—Rastriya Beema Sansthan (now Rastriya Jeevan Beema Company Limited) began handling life insurance, and Rastriya Beema Company Limited took over the non-life insurance business.

Subsequently, the company continued to operate the life insurance business under the name of Rastriya Beema Sansthan in accordance with the Insurance Act, 2049 B.S. and the Rastriya Beema Sansthan Act, 2025 B.S. However, with the issuance of the Insurance Act, 2079 B.S., the earlier Sansthan Act was repealed exactly one year after the new act came into effect. Therefore, on Kartik 20, 2080 B.S., the institution was formally transformed into Rastriya Jeevan Beema Company Limited.

As the only life insurance company operated under the ownership of the Government of Nepal, the company has completed 57 years of service and entered into its 58th year. In alignment with the goals and objectives set by the Government, the company has successfully expanded its insurance services, increased accessibility, provided simple and efficient service, enhanced public trust through the use of advanced technology, raised awareness about insurance, and delivered optimal returns.

The company is currently providing group life insurance under the term life insurance scheme offered by the Government of Nepal for civil servants. This includes employees from the civil service, Nepal Army, Nepal Police, Armed Police Force, teachers of community schools, and the National Investigation Department.

Similarly, on the institutional side, the company provides group life and loan protection insurance to employees of more than 190 organizations, including: Nepal Rastra Bank, Nepal Bank Limited, Nepal Electricity Authority, Nepal Telecom, Agricultural Development Bank Limited, Nepal Oil Corporation, Dairy Development Corporation, Social Security Fund, Deposit and Credit Guarantee Fund, Rastriya Beema Company Limited, Nepal Telecommunications Authority, Securities Board of Nepal, Nepal Stock Exchange, Food Management and Trading Company Limited, Nepal Insurance Authority, Nabil Bank, Grameen Bikas Bank, Udayapur Cement Industry, Pokhara University, Chilime Power Company Limited, Asian Paints Company Limited, Salt Trading Corporation Limited, Unilever Company Limited, Guthi Corporation, Citizen Investment Trust, Gorkhapatra Corporation, Administrative Staff College, CTEVT, Janak Education Material Center Limited, among others.

Through these efforts, the company has successfully established itself as a trustworthy and prominent institution in Nepal’s insurance sector.