Kathmandu. The government has announced institutional reforms of two state-owned insurance companies.
Finance Minister Bishnu Poudel, while presenting the budget for the upcoming fiscal year in the joint sitting of the Parliament today, announced institutional reforms of the two state-owned insurance companies.
Minister Poudel said that institutional reforms of national insurance company and national life insurance company would be carried out. Among them, the National Insurance Company is listed in NEPSE. The National Life Insurance Company is not listed in NEPSE.
Both these companies have not been able to maintain the minimum paid-up capital set by the regulator Nepal Insurance Authority. Internally, the institutional governance of both companies is very weak.
