Nepal Insurance Company Limited, a pioneer non-life insurance company of Nepal was established on 1947 A.D. by Nepal Bank Limited (the first commercial Bank) and the general public with 51% and 49% shares respectively. In the beginning, the name of this company was "Nepal Malchalani Tatha Beema Company" and had changed its name as "Nepal Insurance & Transport Company Ltd." on 1959 A.D. Now its name is "Nepal Insurance Company Ltd." since 1991 A.D.