Himalayan Reinsurance Barred from Writing New Reinsurance Business for Two Months Except Retrocession Activities

Kathmandu — The Nepal Insurance Authority has barred Himalayan Reinsurance from underwriting new reinsurance business for two months. The Authority stated that, except for reinsurance claim settlements and retrocession-related activities connected to existing reinsurance business, the company will not be allowed to undertake any new reinsurance business until the end of the fiscal year 2025/26.

The restriction was imposed under Section 136(9) of the Insurance Act, 2022, under which the Authority has suspended the company from conducting new reinsurance business for two months.

The Authority said the provision has been enforced in accordance with the decision taken on May 13, 2026. It also stated that all concerned parties have been informed pursuant to Section 136(9) of the Insurance Act.