Kathmandu. KATHMANDU: Nepal Reinsurance Company (RE) has been appointed as the manager of the Foreign Employment Temporary Life Insurance Group Insurance Fund (BRIDGE).
Nepal Insurance Authority (NEA) has issued a circular in the name of Nepal Rica giving the responsibility of the bridge manager. The next fiscal year 2083. According to the NRA, Nepal Ri has been assigned the responsibility of the manager of the group insurance fund (bridge) of long-term insurance as per the provision in the budget statement of the Fiscal Year 84.
The Authority has now directed Nepal Reel to implement it accordingly.
The budget statement has made a provision that the insurance companies in Nepal should repay at least 20 percent of the sum insured from Nepal Reinsurance Company (Nepal Re-Insurance Company). “We will make arrangements for long-term reinsurance,” Finance Minister Swarnim Wagle had said while presenting the budget. ’
The same provision has been implemented by the NRA.
