Insurance Information Center to Be Established, Based on CIB Model

Kathmandu — The Government of Nepal is preparing to establish an Insurance Information Center (IIC) in a bid to enhance transparency and reduce fraud in the insurance sector. The center will be modelled after the Credit Information Bureau Nepal...


IPPAN Presses Insurance Authority to Enforce Detariff Agreement for Hydropower Projects

Kathmandu — The Independent Power Producers’ Association of Nepal (IPPAN) has called on the Insurance Authority to act on a long-pending agreement aimed at detariffing insurance premiums for hydropower projects. Despite a mutual understanding reached between IPPAN and the...


Nepal Opens Door to Insurance Aggregator Companies, Stirring Debate Among Agents

Kathmandu — The Nepal Insurance Authority has formally paved the way for licensing insurance aggregator companies through newly framed regulations, marking a significant shift in the country’s insurance landscape. Though yet to be published in the Gazette, the move...


Siddhartha Premier Insurance Assigned [ICRANP-IR] A Rating by ICRA Nepal

Kathmandu – Siddhartha Premier Insurance Limited has been assigned an [ICRANP-IR] A rating by ICRA Nepal, signifying an adequate degree of safety regarding the timely servicing of financial obligations. The rating, regarded as a significant milestone, is a testament...


Neco Insurance Allots Over 5 Million Right Shares, Unsold Units Headed for Auction

Kathmandu – Neco Insurance Limited has successfully allotted 5,030,901.55 units of right shares issued in a 4:1 ratio from Falgun 8 to Chaitra 14 (February 20 – March 27). The allotment took place on Chaitra 31 (April 13). The...


Supreme Court Postpones Hearing on Legitimacy of Insurance Authority Chairman’s Appointment

Kathmandu – The Supreme Court has rescheduled the hearing of a writ petition challenging the appointment of the Chairman of the Insurance Authority of Nepal, citing procedural delays. The next hearing has been set for Baisakh 8 (April 21),...


NRB Governer Appointment Delayed As Court Reviews Insurance Authority Chairman’s Case

Kathmandu — The post of Governor at Nepal Rastra Bank (NRB) has remained vacant since Chaitra 23 (April 5), raising concerns over procedural delays and legal ambiguities in the appointment process. Despite legal provisions mandating the appointment of a...


Non-Life Insurance Professionals Call for Policy Revisions on Shares and Reinsurance Allocation

Kathmandu — The Nepal Non-Life Insurance Professionals Association has called for critical policy reforms in the insurance sector during a formal meeting with newly appointed Insurance Authority Chairman Sharad Ojha today. The Association Chairman Rajendra Malla, congratulated Chairman Ojha...


High-Level Economic Advisory Reform Commission Suggests to Improve Deposit Insurance to Safeguard Banking Sector

Kathmandu — The High-Level Economic Advisory Reform Commission has recommended enhancing the effectiveness of Nepal’s deposit insurance mechanism to ensure long-term stability in the banking sector. Currently, the Deposit and Credit Guarantee Fund, jointly operated by the Government of...


Shikhar Insurance Sets Record by Settling Tinkune Incident Claims Within 13 Days

Kathmandu — At a time when delays in insurance claim settlements are often the norm, Shikhar Insurance Company has set a new benchmark by clearing all claims related to the Tinkune incident of Chaitra 15 within just 13 days....