Nirmal Dhakal Takes Oath as Chairman of Rastriya Beema Company
4th November 2025, Kathmandu
Nirmal Dhakal, the newly appointed chairman of the board of directors of Rastriya Beema Company Limited (RBCL), has formally taken the oath of office and secrecy.
Rastriya Beema Company Chairman
This ceremony marks the official commencement of his tenure leading Nepal’s only government-owned non-life insurance provider.
The Oath Ceremony and Regulatory Presence
The oath-taking ceremony underscores the direct link between the state-owned insurance company and the national regulatory body, emphasizing the importance of governance and compliance.
Administered by the Regulator
The oath was administered at the company’s central office in Kupandole by Janak Raj Sharma, the Chairperson of the Nepal Insurance Authority (NIA) (formerly known as the Insurance Board). The NIA is the apex regulatory body for the entire insurance sector in Nepal. The presence of the regulatory chief administering the oath highlights the seriousness of the position and the government’s commitment to strengthening the company’s leadership.
Attendance
The ceremony was a high-level affair, attended by key officials of the Rastriya Beema Company, including Director Kundan Sapkota, CEO Dr. Shiva Hari Shrestha, and various other senior officials, signifying institutional support for the new chairman.
Chairman Dhakal’s Dual Mandate
Mr. Dhakal’s appointment comes with a significant dual responsibility assigned by the Government of Nepal, reflecting his background and the strategic importance of both roles.
Government Decision and Effective Date
The decision for his appointment was made by the Government of Nepal on Kartik 14, 2082 BS (approximately October 30, 2025).
Dual Official Roles
Crucially, the government’s decision also designated Mr. Dhakal as the Deputy Director General of the Department of Money Laundering Investigation (DMLI). This dual role suggests that the government is seeking to leverage his expertise across critical financial governance and enforcement sectors. For Rastriya Beema Company, having a chairman with a strong background in financial regulation and compliance is a major asset, especially given the company’s need to maintain profitability and uphold the highest standards of financial conduct, a key focus of the Nepal Insurance Authority.
Rastriya Beema Company’s Role in Nepal’s Insurance Sector
The Rastriya Beema Company is not just another insurer; it holds a special place in Nepal’s economic and financial history.
The Nation’s Sole Government-Owned Non-Life Insurer
RBCL is the only non-life insurance company wholly owned by the Government of Nepal. Established initially in 2024 BS (1967/68 AD), the company carries a rich history of over five decades, having played a pioneering role in the development and expansion of the Nepali insurance market.
Core Mandate
The company’s mandate goes beyond mere profit-making; it involves a public service obligation to:
Provide various insurance services to government ministries and agencies, public institutions, and state-owned enterprises.
Support the economic development of the country by mobilizing internal resources.
Reduce the foreign exchange burden by offering domestic insurance solutions that minimize the need to rely on foreign insurers.
Under Chairman Dhakal’s leadership, the company is expected to continue its work in balancing its public service role with the need to remain competitive in a market increasingly dominated by aggressive private sector insurance companies. This new leadership is positioned to guide the company through potential modernization and strategic reforms necessary to meet the increasing capital and operational standards set by the Nepal Insurance Authority.
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