Provision to Open the Branch Office in Foreign Country

Kathmandu, What is the Terms of Condition for the Insurance Companys to open the Branch office in Foreign Country.

provision of open the branch office in foreign country. Insurances Company have been open the branch or foundation of contact office in foreign country should be complete the terms and condition.

According to Nepal Insurance Authority’s insurance regulation 2080.

Insurance company should be submit requirement details of document.

Insurant should be proposed professional plan, Benefit-Invest or analysis of possibility,  study report, Necessary to office open estimate investment budget, Authority provide minimum solvency occupied foundation. Bonus, Benefit, Capital enters receive or returns policy management as along details document should be submit. Also those of country should be remain bilateral relation with Nepal.

And according to regulation applicants to open the office within the submitted the document. Application date of within 60 day will decide the conclusion.

Along with in regulation anyway anything written to extend the authority access of insurance service.

Along with life and nonlife insurance company open the branch office, proposed the office location, financial possibility or on the spot study report, Manpower, infrastructure’s management and viable details of document should be provide.