Swiss Re Appoints Bernhard Kaufmann as New Incoming Group CRO

Zurich — Swiss Re has announced the appointment of Bernhard Kaufmann as its next Group Chief Risk Officer (CRO), effective October 1, 2025. He will succeed Patrick Raaflaub, who currently holds the position. Kaufmann brings nearly two decades of...


Global Economic Losses in Q1 Hit $83 Billion in 2025, Insured Catastrope Losses Reach $38 Billion: Aon Report

The first quarter of 2025 has seen an alarming surge in economic losses from natural disasters, with damages reaching an unprecedented $83 billion globally, according to risk and reinsurance broker Aon. The bulk of this devastation was concentrated in...


Emil Pradhan Appointed as Director of Nepal Reinsurance Company

Kathmandu — Nepal Reinsurance Company Limited has announced the appointment of Emil Pradhan as a new member of its board of directors. The decision was made during the company’s board meeting held on Baisakh 2 (April 15). Pradhan steps...


Foreign Reinsurance Partnerships Recommended to Reduce Risk in Insurance Sector

Kathmandu — The High-Level Economic Advisory Reform Commission has recommended that Nepal adopt a hybrid reinsurance model by partnering with foreign reinsurance companies to better manage risks and modernize the insurance sector. In its report submitted to the Government...


Nepal Reinsurance Company Reports Decline in Profits for Last Fiscal Year

Kathmandu – Nepal Reinsurance Company Limited has published its financial statements for the fourth quarter of the last fiscal year (2080/81), revealing a decrease in net profit and earnings per share compared to the previous year. Additionally, the company...


Reinsurance Sector Faces Challenges as Climate Change and Urbanization Drive $350 Billion in Losses

Kathmandu – A recent study has revealed that climate change and uncontrolled urban activities resulted in approximately $310 billion in economic losses worldwide in 2024, significantly impacting the global insurance sector. The increasing frequency and severity of natural disasters...


Nepal Insurance Authority Directs Foreign Reinsurance Brokers to Establish Offices

Kathmandu – The Nepal Insurance Authority has instructed foreign reinsurance brokers to establish offices in Nepal within three months, in line with the Reinsurance Directive for Life Insurance, 2080. According to the directive, reinsurance brokers listed with the authority...


Seminar on Risk Management and Insurance Held in Dhangadhi

Kathmandu – A seminar on risk management and contemporary issues in insurance was held in Dhangadhi on Saturday, organized by the Nepal Insurance Professional Society (NIPS) in collaboration with the Nepal Insurance and Risk Management Association (NIRMA). Prakash Bam,...


Munich Re to Acquire NEXT Insurance in $2.6 Billion Deal

Frankfurt (Reuters) – Munich Re has signed a definitive agreement to acquire NEXT Insurance for $2.6 billion, making it part of ERGO, Munich Re’s primary insurance arm. The acquisition marks a significant expansion into the US small and medium-sized...


Nepal Reinsurance Company to Invest in Term Deposits

Kathmandu – Nepal Reinsurance Company Limited has announced plans to invest in term deposits using its investable funds in both Nepali and American dollars. The company has invited financial institutions in categories A, B, and C, licensed by Nepal...