LIC Nepal has got many national and international Laurrels. LIC Nepal has got many national and international Laurrels. LIC Nepal has got many national and international Laurrels. LIC Nepal has got many national and international Laurrels.

Mission/ Vision

Ensure and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns and by rendering resources for economic development.

Objectives / Goals

The objectives / Goals of the Company are stated as following:

  • (a) Contribute for the economic development of the nation by providing life insurance services of all kinds and operating life insurance business pursuing the existing Insurance Act, 2049 (1991) and the Insurance Regulation 2049 (1991) of Nepal.
(b) Spread Life Insurance awareness widely keeping the view for reaching all insurable people of the nation and providing them adequate financial coverage against death at a reasonable cost.
(c) Meet the various life insurance needs of the community that would arise with the changing social and economic environment.
(d) Carry out, or cause to carry out the works related to whole life, term or periodic life insurances for people.
(e) Bear in mind, in the investment of funds, the primary obligation to its policyholders, whose money it holds in trust, without losing sight of the interest of the community as a whole; the funds to be deployed to the best advantage of the investors as well as the community as a whole, keeping in view national priorities and obligations of attractive return.
(f) Conduct business with utmost economy and with the full realization that the moneys belong to the policyholders.
(g) Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards achievement of Corporate Objective.

History

Life Insurance Corporation Nepal Limited (shortly called as L.I.C. Nepal) is one of the largest capitalized insurance companies of Nepal. The journey of L.I.C. Nepal had its genesis in 2000 when global insurance behemoth, Life Insurance Corporation of India, joined hands with Vishal Group, a dominant player of Nepal. 55% of ownership of the Company is held by L.I.C. of India, 25% by Vishal Group and 20% by general public in the form of equity. This way the essence of L.I.C. Nepal can best be described by the word "Glocal" i.e. a unique combination of global experience with local expertise. Life Insurance Corporation (Nepal) Limited having Registration No. 765-057/58, was incorporated under the Companies Act, 2053, on 27.12.2000. It has got the life insurance license from Insurance Board of Nepal (Beema Samiti) on 07.08.2001 and started operations from 01.09.2001.

Board Of Directors

Mr. Laxmi Prasad Das

Director & CEO

Mr. M.R Kumar

Chairman

Mr.

Director

Mr. Ashok Agrawal

Director

Mr. Kumar Keshar Bista

Public Director

Mr. V.K. Kukreja

Independent Director

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