Kathmandu: Himalayan Reinsurance Limited (HRL) has secured a stake in the reinsurance treaty of the world-renowned GIC Re (General Insurance Corporation of India Limited). HRL could make it in its very first year of obtaining approval from the regulatory body of India for reinsurance operations.
The press release of HRL states, ”The trust shown by an esteemed company like GIC Re to a private sector company that is only in its fourth year of establishment, has greatly encouraged Himalayan Reinsurance Limited to expand its business into other countries.”
India based GIC Re is the worlds 16th largest global reinsurer. It has its joint venture in GIC Re Bhutan as well.
HRL is the private sector reinsurer of Nepal. It has expanded its operations to more than 30 countries, including India.
