Thursday 16th July 2026
Kathmandu — The Nepal Insurance Authority has approved a new insurance policy designed to cover losses caused by wildlife attacks, bringing human, agricultural, and property damage under the country’s formal insurance system. The policy will come into effect from July 17. The scheme has been introduced in response to...
Kathmandu — The Nepal Insurance Authority has urged Parliament’s Finance Committee to amend the Insurance Act every five years and eliminate inconsistencies between the Act and other prevailing laws, arguing that periodic legislative updates are essential to keep pace with the sector’s evolving regulatory needs. Speaking at a meeting...
Kathmandu — The Nepal Insurance Authority has introduced a new set of regulatory requirements to strengthen the implementation of Nepal Financial Reporting Standard (NFRS) 17, requiring insurers to comply with updated rules governing financial reporting, bonus declarations, annual general meetings, and dividend distributions. Under the revised framework, insurance companies must continue preparing two separate sets of quarterly financial statements, a practice that began with...
Kathmandu — Sagarmatha Lumbini Insurance Company Limited (Salico) has retained its ‘ICRA NP-IR A’ issuer rating after ICRA Nepal reaffirmed the company’s credit profile and removed the ‘Rating Watch with Negative Implications’ status previously assigned to it. An ‘ICRA NP-IR A’ rating indicates that the insurer has an adequate capacity to meet its financial obligations on time, carries a...
Editorial For the Nepal Insurance Authority (NIA), the past seven months have been marked not by regulatory breakthroughs, but by turmoil. The nation’s apex insurance watchdog has seen two of its most senior leaders fall under scrutiny—one acquitted, the other suspended—and now stands cautiously under interim leadership. These events, unfolding one after another, have exposed not just the fragility...
Kathmandu — The insurance sector provides a stark example of how extensive political interference has weakened Nepal’s financial institutions. Investigations into alleged misconduct by former Insurance Authority Chairman Surya Prasad Silwal, widely criticized by some as one of the most controversial figures in the sector, have yet to be fully pursued. Silwal has faced allegations ranging from using funds...
Kathmandu — Nepal Rastra Bank (NRB) has rolled out a new set of regulations requiring banks and financial institutions to tighten oversight of dormant accounts, as part of broader efforts to reduce financial crime and curb the misuse of inactive banking channels. The measures, introduced through amendments to the Unified Directives 2082, were issued by the Bank and Financial Institutions Regulation Department under the authority granted by Section 79...
