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༄༅།། འབྲུག་རྒྱལ་ཉེན་སྲུང་ལས་འཛིན་ཚད།
Royal Insurance Corporation of Bhutan Limited

MLR : 6.66 %

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181 Thimphu
151 Phuntsholing

COMPANY PROFILE

Royal Insurance Corporation of Bhutan Limited was incorporated on 7th January 1975 under the Charter of His Majesty the fourth Druk Gyalpo Jigme Singye Wangchuck, primarily to meet the Insurance need of its Citizen as well as to actively participate in the economic development of the nation. It has grown from strength to strength over the years in keeping with nation's march towards the goal of economic growth, self-reliance and Gross National Happiness.

Royal Insurance Corporation Of Bhutan Limited, an insurance company also function as a financial institution, plays a significant role in the socio-economic development of the country. It generates revenue in one hand and offers services to the society in meaningful way on the other, through its various schemes of insurance and investment. The Life Insurance scheme provides security to the human life against any unforeseen calamities. The General Insurance schemes covers the Industrial sector and other fixed and movable assets by providing indemnity in case of natural hazards.The Group Savings-Cum-Insurance scheme covers employees in the civil service and the public sector against untimely death and total permanent disability, and also provides safety and security to the salaried class after their retirement. The Royal Insurance Corporation Of Bhutan Limited has been entrusted by the Royal Government of Bhutan to implement the Rural House Insurance Scheme to indemnify the rural population in case of fire, flood and earthquake, which may cause damages to their homes. it also provides both short term and long-term financial to the promoters of the big and small projects to accelerate the economic growth of the country.

RICBL has its registered office at Thimphu, Regional office at Phuentsholing and Branch Offices at Bajothang, Dagana, Gasa, Gedu, Gomtu, Haa, Jomotsangkha, Khuruthang, Lhuentse, Mongar, Nanglam, Paro, Pemagatshel, Samdrupjongkhar, Samtse, Trashigang, Trashiyangtse, Trongsa, Tsirang, Wamrong and Zhemgang,Tsimasham, Lhamoizingkha, Panbang, Dorokha, Sakteng & Four extension offices at Mothithang, Babesa, Langjophakha and Gyelposhing. The Corporation has an excellent working relationship between the management and staff at all levels, and close coordination between the management and the staff has contributed to the success of the corporation over the years.

     Established in 1975 under the Royal Charter, RICB is the leader in the Bhutanese
     Insurance Market.
     39% of the shares is owned by the Royal Government of Bhutan.
     There are 323 employees and over 813 Sales Executives.
     Services are catered from 25 Branch Offices, Regional Office and the Head Office
     (7 departments).
     Winner of the ADFIAP's award "THE DEVELOPMENT TRIHEDRON" in 2012 for Rural
     House Insurance Scheme in Corporate Social Responsibility Category.
     Awarded B+ (Good) Financial Strength Rating and bbb- Issuer Credit Rating
     by A.M.Best in 2016-2017.

  Non-Life Insurance
 Fire
 Marine
 Engineering
 Miscellaneous
 Motor
 Aviation
 
  Life Insurance
 Whole life
 Endowment
 Term Insurance
 
  Financial Security & Services
 Provident Fund
 Actuarial Unit
 Annuity
 Group Insurance
 
  Reinsurance
   Inward
   Outward
 
  Credit and Investment
 Manufacturing
 Service
 ATransport
 Personal
 Trade & Commerce
 Housing
 Loan against Shares

Net Worth (Million BTN)

Total Assets (Million BTN)


Profit Before Tax (Million BTN)


Paid up Capital (Million BTN)






Income Classification (2013-2016)

Figures in million BTN

1US $=Nu. 67.9669 BTN

Note: Miscellaneous' Portfolio includes; Aviation and Health insurance



*The face value of Share reduced from BTN 100 to BTN 10 by RSEBL since 2014. The Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (IFRS).

Updates

Rural Life Insurance Scheme Revised

The government has revised the existing Rural Life Insurance Scheme (RLIS) to Nu 30,000 from Nu 15,000 with effect from July 1.Read more in Kuenselonline ->

MoAF and RICBL target crop insurance implementation by year end

By the end of this year, a crop insurance scheme is to be implemented in the agriculture sector in Bhutan. It will provide a hitherto absent safety net to the policy subscribers, among 70 percent of the country’s population, that are dependent on agriculture.Read more in The Bhutanese ->

Our Address
Head Office: Post Box 315,
Norzin Lam, Thimphu
E-Mail: contactus@ricb.com.bt
feedback@ricb.com.bt
Visitor count: web counter
Regional Office: Post Box 77;
Phuentsholing
Our Auditors
T.R.CHADHA & Co., Chartered Accountants, 359, Ground floor, Udyog Vihar, Phase-II, Gurgoan 122016(HR)