Guidelines Issued on Financial Statements for Insurers By

Kathmandu : Nepal Insurance Authority has issued Directive 2023 A.D. regarding financial statements of insurers. It is said that the instructions regarding the financial statements of the new insurers have been issued with effect from the 16th of 3rd October, 2023 A.D.

The authority has instructed the insurance companies to prepare financial statements for the financial year 2022/023 and thereafter in accordance with this directive.

According to this guideline, the authority has encouraged to decentralize the investment that was done under the old system, and the authority will tighten the distribution of profits through the financial statement guidelines.Under this guideline, the provisioning for bad loans has also been prescribed by the insurance companies.