Kathmandu: The Nepal Insurance Authority has approved the appointment of Chirayu Bhandari as the Chief Executive Officer of Guardian Microinsurance Company. The Authority has given the final approval on Friday. The meeting of the board of directors(BODs) of Guardian Microinsurance, a new micro life insurance company, had decided to appoint Bhandari as CEO. The appointment was submitted to the Authority for its approval.
Bhandari is the former CEO of Nepal Reinsurance Company.
There are 44 institutional promoters in the Guardian Microlife Insurance Company. A total of NPR 495 million has been invested in Guardian Micro Life Insurance by its promoter shareholders. The promoters behind Guardian Microinsurance include former presidents of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Shekhar Golcha, Murarka Group Pashupati Murarka, and Bhawani Rana. Shekhar Golchha has made an investment of NPR 1 crore through Hulas Autocraft. Pashupati Murarka NPR 5 million and Bhawani Rana has made an investment of NPR 5.5 million through Titanium Capital. Shankar Agrawal, the chairman of Shanker Group has invested NPR 112.5 million through Fincorp.