Kathmandu. Foreign reinsurers providing reinsurance services in Nepal for the financial year 2083. The Insurance Authority of Nepal (BEE) has called for 84 people to be enlisted.
Issuing a public notice through its website, the authority has requested foreign reinsurers to be listed as per the provision of Section 12 of the Insurance Reinsurance Directive 2080. Clause 11 states that foreign reinsurers should be listed and Section 12 requires re-insurers to renew their listing. The authority has requested foreign reinsurers to renew the listing as soon as possible.
The provision has been implemented only in the case of insurers who have not received a credit rating of Triple A or equivalent from an international rating agency. In the case of reinsurers with Triple A and Plus rating from AM West, SIP, Moody’s and Fitch ratings, there is no need to be listed with the NEA.
The current fiscal year 2082. A total of 95 foreign reinsurers including 86 A class, 5 B class and 4 other categories are listed for 83 years.
