Rastriya Beema Sansthan (Pvt. Ltd.) was established on the 1st of Poush, 2024 BS with the investment of the Government of Nepal. The Sansthan had started the business of non-life insurance on Falgun 11 of the same year. After the enactment  of the Rastriya Beema Sansthan Act in 2025 BS, it was transformed into the Rastriya Beema Sansthan. As per the decision of the Government of Nepal, in line with the Insurance Act 2049 BS, Rastriya Beema Company Limited was established on Jestha 28, 2071 BS to work as a non-life insurance business. This company obtained non-life insurer's license in Asar 27, 2071 BS from the Insurance Board, and it has been operating non-life insurance business since Sarawan 18, 2071 BS.The history shows that the company has 55 years' experience of doing non-life insurance business in Nepal.

Rastriya Beema Company Limited is the only non-life insurance company owned by the Government of Nepal. For the past 55 years, the company has been providing various insurance services to various ministries and agencies of the Government   of Nepal, public institutions, private business establishments and the general public with the objective of reducing financial risk and reducing foreign exchange burden through insurance services.As a result, the company has a leading role in the development and expansion of the  Nepali insurance  market.  The  trust  and confidence of the government, private sector establishments and the general public has been able to grow the business despite highly competitive private sector insurance companies due to focused on customer oriented working style and high level of service delivery in line with the wishes and aspirations of the insured.

In order to achieve sustainable economic development by reducing the economic risk and expanding the scope of insurance in Nepal, the company is engaged in   the campaign of building a prosperous Nepal by bringing government and private property, industry and trade under the scope of insurance. It has been providing financial security through insurance in the areas of construction of physical projects, government and private property, agriculture and animal husbandry, damage to public health and other potential economic risks arising from accidents and natural calamities.

Company has been providing insurance services on property insurance for protection of physical assets of government, private sector and general public, engineering insurance for infrastructure development, natural disaster risk protection for natural disasters, mass accident insurance, health and medicine insurance for public health, agriculture, animal husbandry and protection of farmers and low income people, micro insurance, aviation, marine, motor etc. and it is eager to serve as a responsible government own insurer.