Kathmandu. The government has announced that it will require the insurance companies to re-insure at least 20 percent of their insurance policies from the Nepal Reinsurance Company (Nepal Reinsurance Company).
Presenting the budget for the coming fiscal year in a joint meeting of both houses of the federal parliament, Finance Minister Dr Swarnim Wagle had announced that the insurance companies should re-insure at least 20 percent of their insurance company. “We will make arrangements for long-term reinsurance,” he said, “We will make arrangements to allocate a certain portion of the reinsurance to foreign reinsurance companies to reduce the risk.” ’
Likewise, arrangements would be made to re-insure the security programme run by the Social Security Fund through Nepal Re itself, said Finance Minister Wagle.
