Kathmandu: While the employees of the insurance company are expressing concern over the post-merger employee adjustment, Chairman of the Insurance Board Surya Prasad Silwal has expressed his commitment not to let any issue for the settlement of insurers’ employees.
Chairman Silwal has given such statement while attending an interacting program with the state heads, branch heads and employees of the insurance companies in Dhangadhi sub-metropolis on Sunday.
With the IB announcing the capital increase plan on April 27, some companies have already initiated the merger process. The IB is strategically creating pressure on insurance companies for merger. Himalayan General Insurance and Everest Insurance Company have even signed a merger agreement and received principal consent from the regulatory authority.
Chairman Silwal said that the process of selling insurance policy on prior receiving first premium has not stopped yet and directed to stop it immediately. He said that the branch offices have not been opened in the rural areas yet and requested the regional heads to focus on this as well.
Participating insurance agents and some employees had requested to reconsider over the complicated regulatory terms and conditions for child life insurance policy. They have stated that, the regulatory compliance for the child plan has made it very tough to sale the product in the market.
