Kathmandu. KATHMANDU: Nepal Beema Authority (NIA) has approved financial statements of 19 insurance companies including 10 life insurance companies, 6 non-life insurance companies and 3 micro insurance companies.
The Insurance Act, 2079 BS states that the insurer has to prepare the audited balance sheet and profit or loss details of each fiscal year and submit it to the Authority in the prescribed format within six months of the next fiscal year.
The life insurance companies that have been approved by the NEA for the fiscal year 2081/82 are Citizen Life Insurance, Nepal Life Insurance, IME Life Insurance, Sanima Life Insurance, National Life Insurance, Prabhu Mahalaxmi Life Insurance, Sun Nepal Life Insurance, Reliable Nepal Life Insurance. Surya Jyoti Life Insurance Company Limited and LIC (Nepal) Limited.
Similarly, the meeting also approved the financial statements of IGI Prudential Insurance, Siddhartha Premier Insurance, Shikhar Insurance, Sagarmatha Lumbini Insurance, Nepal Insurance Company and NLG Insurance for the fiscal year 2081/82.
Similarly, Guardian Micro Life Insurance Limited, Protective Micro Insurance Company Limited and Liberty Micro Life Insurance Company Limited have also been approved for the fiscal year 2081/82 BS.
There are 14 life insurance companies, 14 non-life insurance companies, seven micro insurance companies and two reinsurance companies.
