Nepal Reinsurance Company Ltd

Nepal Reinsurance Company Ltd. (NRIC) is Nepal’s national reinsurer. It insures the country’s insurance companies, which keeps more premium inside Nepal and strengthens the insurance sector. It grew out of the Insurance Pool, set up in 2003 to cover damage caused by terrorism. The government decided to convert the Pool into a full reinsurance company in 2014, and Nepal Re was incorporated that November and formally opened in December 2014. It was set up as a public-private partnership. The Government of Nepal is its largest shareholder at about 44%, and the rest is held by the general public and domestic insurers. Its paid-up capital of about NPR 13.4 billion makes it one of the best-capitalised financial institutions in Nepal.