Kathmandu — Surendra Thapa, CEO of Nepal Reinsurance Company, has finally been suspended. Thapa, who had been drawing a salary worth hundreds of thousands of rupees per month, is alleged to have played a role in actions that harmed...

Kathmandu — Nepal Reinsurance Company has published its financial statements for the second quarter of fiscal year 2025/26. The company had been unable to release its financial statements earlier due to issues related to a disorganized audit process, but...

Kathmandu – Himalayan Reinsurance Limited has published its financial statements for the third quarter of the current fiscal year (mid-July to mid-April). According to the report, the company recorded a net loss of NPR 44.3 million as of mid-April,...

Kathmandu — Legal cases are set to be filed against around 40 senior figures in Nepal’s insurance sector in connection with an alleged fraud involving more than Rs. 4 billion. The Central Investigation Bureau (CIB) has already submitted its...

Kathmandu — A police investigation has concluded that more than NPR 4 billion was misappropriated from five insurance-related companies, including Himalayan Reinsurance. The investigation has also found that funds collected from insurance operations were diverted and invested in the...

Kathmandu — This year’s national budget has introduced a broader and more interventionist approach to Nepal’s insurance sector, moving beyond the traditional focus on health insurance and placing greater emphasis on strengthening non-life insurance and domestic reinsurance capacity. While...

Kathmandu — Insurance companies operating in Nepal will once again be required to place 20 percent of their total insured risk with the state-backed Nepal Reinsurance Company under a new budgetary provision announced by the government. Finance Minister Swarnim...

Kathmandu — Despite completing a valuation exercise that reportedly took nearly two years to finish instead of the usual one, Nepal Reinsurance Company has yet to hold its Annual General Meeting (AGM), with internal accounting issues said to be...

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...

Kathmandu — The insurance sector has received only limited coverage in the government’s policy and program for the upcoming fiscal year. Under the policy framework, the government has pledged to strengthen and develop the capital market by making it...