Kathmandu: Ishwari Prasad Aryal, the joint secretary of the ministry of finance, has been appointed as the Chairman of the Board of Directors of Nepal Reinsurance Company(Nepal Re). The government of Nepal has a major stake in Nepal Re.
According to the decision of Finance Minister’s decision made on 19 Mangsir, 2079, the member of BODs of Nepal Re, Aryal, has been appointed as the chairman of the BODs. Aryal represents the Ministry of Finance in the BODs of Nepal Re.
Aryal is also the Joint Secretary of the International Financial Assistance Coordination Division of the Ministry of Finance.
The post of chairman of BODs remained vacant after the resignation of Dr. Ravindra Ghimire. Dr. Ghimire couldn’t serve his full tenure over a dispute with the Nepal Insurance Authority over the Covid19 Insurance claim funding. Dr. Ghimire was forced to resign amid the dispute. Nepal Re has declined to allocate any additional funds in the Covid-19 Insurance pool beyond its actual liability following the instruction issued by the Nepal Insurance Authority.