KATHMANDU, JANUARY 2: The Nepal Insurance Authority (NIA) has taken action against three non-life insurance companies. The board meeting of the Authority imposed a cash penalty of Rs 200 thousand each to IGI Prudential Insurance, United Ajod and National Insurance Company. These companies were found to have engaged in breaching the Insurance Act by selling […]
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Two leading insurance companies in the country have decided to merge in their efforts to emerge as the biggest insurance company in Nepal.
The post Sagarmatha, Himalayan to merge to become the biggest insurance company of Nepal appeared first on OnlineKhabar English News.
Beema Samiti (The Insurance Board), the insurance regulator of the country, has directed all insurance companies in the country to shut their branch offices across the country until May 27.
KATHMANDU, April 2: Five new insurance companies have been in a race to receive operating licenses at a time when the government is looking for taking the existing insurers to merger with an aim to minimize unhealthy competition in the insurance business.
A dozen of the insurance companies have failed to meet the minimum paid-up capital requirement within the given time. The insurance regulator has asked the life insurance companies to increase their paid up capital to Rs 2 billion, whereas the minimum paid up capital requirement for non life insurance companies was fixed at Rs 1 billion.
