Kathmandu: Nepal Insurance Authority (NIA) has issued Enlistment Guidelines for Foreign Reinsurers and Reinsurance Brokers 2024. The guideline aims to guide the process of enlistment of foreign reinsurers and brokers.
According to the NIA, the Guidelines is already executed though made public on Tuesday only. The Guidelines includes the provision of enlistment of foreign reinsurers and brokers. Any foreign reinsurer or broker interested to serve Nepalese market must get enlisted with NIA one month prior to the end of Nepalese financial year. Nepalese financial year’s calendar runs between 16 or 17th June to 16 or 17th July of Gregorian Calendar.
However, exemption has been given to foreign reinsurers with the global rating of Triple A or A++
