Citizen’s Charter

Nepal Reinsurance Company Service Charter (Citizen’s Charter)

Nepal Re-Insurance Company Limited (Nepal Re), the successor of Insurance Pool. Nepal Insurance Pool was set up with the aim to cover damages caused by the Riot, Strike, Malicious Damage, Sabotage and Terrorism (RSDMDST). It incorporated on 21st Karthik, 2071 under the Companies Act 2063 of Nepal in accordance to the decision of Council of Ministers (Nepal) dated 22nd Shrawan, 2071 to convert the Insurance Pool, Nepal into Nepal Reinsurance Company Limited.

Company’s Service All reinsurance services related to life and Non-life Insurance Companies in national and international market.
Related Laws and Acts
  • Companies Act 2063
  • Insurance Act 2049
  • Insurance Rules and Regulations 2049
  • Income Tax Act 2058
  • Income Tax Rules 2059
  • VAT Act 2052
  • VAT Rules 2053
  • Labor Act 2074
  • Labor Rules 2075
  • Bonus Act 2030
  • Bonus Regulation 2039
  • Money Laundering Prevention Act 2063
  • Money Laundering Prevention Rules 2066
  • Securities Act 2063
  • Securities Registration Regulation 2073
  • Guidelines on Reinsurance (Business and Operations) 2071
  • Corporate Governance Directives 2075
  • And other related Laws and Acts, including rules and regulations, circulars issued by Beema Samiti
Documents Required for Issuance of Reinsurance Services (Underwriting)
  • Reinsurance offer Slips
  • Policy wordings
  • Risk Inception Report
  • Corresponding mail/letter
  • Any other documents required by underwriting department
Time taken to issue the reinsurance support 2-3 days for normal FAC and 1-2 week for treaty, after the submission of all required documents
Premium to be Paid As per the treaty slip or the PPW mentioned
Renewal Policy At least 15 days before the expiry date with all the required documents
Where to Claim Claim Department at head office (through letter of mail) with required documents
Required documents for Claim processing Claim below 25 Lakhs:

  • Borderaux
  • Discharge Voucher

Claim Above 25 lakhs:

  • Checklist
  • Board or Management decision for Claim Settlement
  • Insurance Proposal Form
  • Insurance Policy
  • Surveyor Report
  • Incident report verified by local authority
  • *If available Police Report
  • Photographs regarding the incident
  • Discharge voucher
  • Premium Received Status
Time taken to complete Claim Process Below 25 Lakhs: 35 days after completion of all required documents
Above 25 Lakhs: After the decision made by the Claim Committee and Board.
Where to go for Share (Investor) related Jobs Nepal Reinsurance has appointed RBB Merchant Banking Limited, Teku, Kathmandu, for all jobs related to share.
Website: https://www.rbbmbl.com.np/
Telephone Number: 977-1-4243265
Email Address: rbbmbl@rbbmbl.com.np
Quarterly Report As supervised by Beema Samiti, Quarterly Report is published on National Daily Newspaper four times a year (within 60 days after completion of quarter)
Officers to Receive Complaints First – Ms. Namrata Dhungana (Legal and Compliance Head)
Second – Mr. Bishnu Prasad Upadhayay (Company Secretary)
Third – Mr. Damodar Bhandari (Deputy General Manager)
Fourth – Mr. Shankar Kumar Rayamajhee (Chief Executive Officer)