Nepal Reinsurance Company Limited

Nepal Reinsurance Company Limited often referred to simply as “Nepal Re” is Nepal’s first reinsurance company, established to support and strengthen the domestic insurance sector.The company traces its roots to an earlier “Insurance Pool,” set up in 2003 with the objective of covering losses arising from terrorism, sabotage or malicious damage (so-called RSTMD risks) in Nepal. Over time, as the need for a full-fledged domestic reinsurer became apparent to handle broader reinsurance needs (both life and non-life), the government decided to convert the Insurance Pool into a reinsurance company. Accordingly, the company was formally incorporated on 7 November 2014 under the Companies Act 2006.The formal inauguration of Nepal Re took place on 22 December 2014 by the then-Finance Minister.Nepal Re operates under a public-private partnership (PPP) model, with equity participation from the Government of Nepal along with various non-life insurance companies in the country, thus aiming to pool and manage reinsurance capacity domestically. Its core mission is to reduce dependence on foreign reinsurers, retain premiums within the country, and thereby build a stronger insurance infrastructure.Over the years, Nepal Re has expanded its suite of reinsurance services covering domestic non-life business, international non-life retrocession, as well as life-business reinsurance. The company is certified with ISO 9001:2015, indicating its compliance with recognized quality management standards.As a listed company (symbol “NRIC”), Nepal Re also participates in the Nepali stock market, making it a publicly-traded entity.