LIC Nepal has got many national and international Laurrels. LIC Nepal has got many national and international Laurrels. LIC Nepal has got many national and international Laurrels. LIC Nepal has got many national and international Laurrels.

Mission/ Vision

Ensure and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns and by rendering resources for economic development.

Objectives / Goals

The objectives / Goals of the Company are stated as following:

  • (a) Contribute for the economic development of the nation by providing life insurance services of all kinds and operating life insurance business pursuing the existing Insurance Act, 2049 (1991) and the Insurance Regulation 2049 (1991) of Nepal.
(b) Spread Life Insurance awareness widely keeping the view for reaching all insurable people of the nation and providing them adequate financial coverage against death at a reasonable cost.
(c) Meet the various life insurance needs of the community that would arise with the changing social and economic environment.
(d) Carry out, or cause to carry out the works related to whole life, term or periodic life insurances for people.
(e) Bear in mind, in the investment of funds, the primary obligation to its policyholders, whose money it holds in trust, without losing sight of the interest of the community as a whole; the funds to be deployed to the best advantage of the investors as well as the community as a whole, keeping in view national priorities and obligations of attractive return.
(f) Conduct business with utmost economy and with the full realization that the moneys belong to the policyholders.
(g) Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards achievement of Corporate Objective.

History

Life Insurance Corporation Nepal Limited (shortly called as L.I.C. Nepal) is one of the largest capitalized insurance companies of Nepal. The journey of L.I.C. Nepal had its genesis in 2000 when global insurance behemoth, Life Insurance Corporation of India, joined hands with Vishal Group, a dominant player of Nepal. 55% of ownership of the Company is held by L.I.C. of India, 25% by Vishal Group and 20% by general public in the form of equity. This way the essence of L.I.C. Nepal can best be described by the word "Glocal" i.e. a unique combination of global experience with local expertise. Life Insurance Corporation (Nepal) Limited having Registration No. 765-057/58, was incorporated under the Companies Act, 2053, on 27.12.2000. It has got the life insurance license from Insurance Board of Nepal (Beema Samiti) on 07.08.2001 and started operations from 01.09.2001.

Board Of Directors

Mr. Siddhartha Mohanty

Chairman

( Appointed on 26.03.2023 )Shri Siddhartha Mohantyr, took charge as Chairperson, LIC of India on 14th March, 2023.
Prior to that he held the post of Managing Director of LIC of India. A Post graduate with a Masters Degree in Arts in Political Science, he has also got his Bachelor’s Degree in Law and a Post Graduate Certification in Business Management.

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Mr. Siddhartha Mohanty

Chairman

Mr. Tablesh Pandey

Director

Shri Tablesh Pandey has taken charge as Managing Director on 18th April, 2023. Shri Tablesh Pandey joined Life Insurance Corporation of India as Direct Recruit Office of the 16th Batch in February, 1988 and started his career at Varanasi in North Central Zone. He worked in various zone like North Central Zone, Central Zone, East […]

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Mr. Tablesh Pandey

Director

Mr. Ashok Agrawal

Director

( Appointed on 01.09.2017 Re-appointed on 01.09.2021) Mr. Ashok Agrawal, a commerce graduate, is the Managing Director of Vishal Group of companies and also is Director of Bank of Asia Nepal Ltd., LIC (Nepal), Prudential Insurance Company Ltd., Mainawati Steel Industries Pvt. Ltd. and Global Trading House Ltd.

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Mr. Ashok Agrawal

Director

Mr. Pranay Kumar

Director & CEO

(Appointed on 09.06.2023) Mr. Pranay Kumar has taken over the charge of Chief Executive Officer and Board Member of Life Insurance Corporation (Nepal) Limited from 9th June 2023. He has been given this charge on deputation as expatriate officer by L.I.C. of India.

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Mr. Pranay Kumar

Director & CEO

Mr.Praveen Kumar Molri

Director

(Appointed on 30th September, 2021) Shri Praveen Kumar Molri joined LIC of India in 1985 and worked in various capacities through the long stint of more than 34 years. He is a Commerce Graduate and Chartered Accountant with rich experience having worked in different prestigious positions including Executive Director – Investment Operation, Chief Risk Officer, and Senior Divisional Manager of two Divisions.

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Mr.Praveen Kumar Molri

Director

Mrs Komal Agrawal

Public Director

Mrs. Komal Agrawal has taken over the charge of Public Director effective from 2077 Falgun 26 (10th March 2021) after unanimously elected as Public Director from 18th AGM of the Company.

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Mrs Komal Agrawal

Public Director

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