Principles of Banking & Insurance

BySudarshan Kadariya

JMC

An Overview

Banking & Insurance in Nepal

Banking sector• The governing authority of

banking sector in Nepal is Nepal Rastra Bank

• There are six types of financial institutions in Nepal. Among them, commercial banks, development banks and finance companies are most popular institutions.

Insurance sector• The governing authority of

Nepalese insurance sector is Insurance Board of Nepal

• There are 25 insurance companies in Nepal.– 8 life insurance company– 16 non life insurance

company– 1 life and non life insurance

company

Types of Financial Institutions in Nepal

List of Commercial Banks

Life Insurance Company1) Natioal Life Insurance Company Limited 2) Nepal Life Insurance Company Limited3) Life Insurance Corporation (Nepal) Limited4) American Life Insurance Company Limited5) Asian Life Insurance Company Limited6) Gurans Life Insurance Company Limited7) Surya Life Insurance Company Limited8) Prime Life Insurance Company Limited

Types of Insurance Companies in Nepal

Non Life Insurance Company 1) Nepal Insurance Company Limited 2) The Oriental Insurance Company Limited 3) National Insurance Company Limited 4) Himalayan General Insurance Company Limited 5) United Insurance Company (Nepal) Limited 6) Premier Insurance Company (Nepal) Limited 7) Everest Insurance Company Limited 8) Neco Insurance Limited 9) Sagarmatha Insurance Company Limited 10) Alliance Insurance Company Limited 11) NB Insurance Company Limited 12) Prudential Insurance Company Limited 13) Shikhar Insurance Company Limited 14) Lumbini General Insurance Company Limited 15) NLG Insurance Company Limited 16) Siddartha Insurance Limited

Life and Non-life Insurance company

1) Rastriya Bima Sansthan

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