Kathmandu, September 24:

Nepal Insurance Company Ltd (NICL), the country’s oldest insurance company, has entered 59th year of its operations. Established as Nepal Maal Chalani and Beema Company in 2004 BS by Nepal Bank Ltd and some private investors, NICL has come through a number of ups and downs. It was named Nepal Insurance and Transport Company in 2016 BS and adop-ted the present name in 2048 BS. Started with a pa-id up capital of Rs 20,000, it is the pioneer among non-life insurance companies in Nepal with a paid up capital of Rs 102 million and a total capital exceeding Rs 188 million. NBL owns 50.9 per cent share and the remaining 49.1 per cent share is owned by public. Its market value is Rs 400 million while its annual premium level is higher than Rs 200 million. Dinesh P S Poud-yalaya, GM said, “Being the oldest non-life insurance company and having the credit of provided the best insurance services for five decades, it will strive for more products.”