Kathmandu — The Nepal Insurance Authority has decided not to take any action against Himalayan Reinsurance Company while investigations are ongoing.

The company is currently under investigation by agencies including the Department of Money Laundering Investigation, the Commission for the Investigation of Abuse of Authority (CIAA), and the Central Bureau of Investigation (CBI). Despite this, the Authority has chosen not to take action against Himalayan Re for now.

Earlier, after identifying activities within the company that appeared to violate the Insurance Act, the Authority had sought clarification. Responses have already been received from the chairperson, board members, and management.

After reviewing these responses and presenting the matter to the board, directors including the chairperson concluded that it would not be appropriate for the Authority to take immediate action against a company that is already under investigation.

Meanwhile, CEO Paudel is on leave due to health reasons and is undergoing treatment.