Tag Archives: Insurance Board

Insurance Pool to be converted into reinsurance company

The country is soon going to get a reinsurance company. After the Cabinet today permitted Insurance Pool to convert into a reinsurance company, the pool will start the legal process to convert itself into a reinsurance company. The government move

CIAA asks Rastriya Beema Sansthan to recover perks given to staff

The anti-graft body has asked Rastriya Beema Sansthan to recover Rs 80.35 million perks and and benefits awarded to its staffers illegally. Commission for Investigation of Abuse of Authority (CIAA) today directed Rastriya Beema Sansthan – for the second time

Insurance Board hands over management to newly elected board of Everest Insurance

After Everest Insurance shareholders elected a new seven-member board of directors in the special general meeting today, the Insurance Board handed over the management to the elected body. After takeover by the Insurance Board (IB) five months ago, the non-life

Insurance Board to handover Everest Insurance management after electing new board

Insurance Board led team is handing over the management of Everest Insurance after holding election of board of directors on February 13. The insurance market regulator – for the first time – had earlier taken over the management of Everest

Government to act tough against ‘tax invaders’ after January 15

Finance Minister Shankar Prasad Koirala today vowed that the government is not going to extend the deadline to clear outstanding tax dues due to mismatch. “The government will move ahead according to law of land,” he said, adding that the

Nepse suspends share trading of NB Insurance

Nepal Stock Exchange has suspended share trading of NB Insurance (Nepse-NBIL), after Insurance Board stopped the company from doing its non-life insurance business. The notorious NB Insurance has been bypassing the insurance market regulator’s directives since more than a year-and-a-half.

After missing AGM deadline two months ago, Rastriya Beema Sansthan starts stock trading at Nepse from today

After failing to hold its 29th annual general meeting (AGM) – two months ago on October 10 – that was supposed to approve Rastriya Beema Sansthan’s (RBS) financial statements of three fiscal years 2003-04, 2004-05, 2005-06, and distribute 39 per

Insurance Board finally closes NB Insurance business

NB Insurance that has been in news for failing to comply with the regulatory norms have finally been closed down today, according to the insurance market regulator, Insurance Board. The Nepse-listed insurance company that has sold some 6,867 policy in

Financial Sector Development Strategy committee formed

High Level Financial Management Committee has formed a team to prepare a Financial Sector Development Strategy. The meeting of the committee today has asked the newly formed team to submit the report within four months. The meeting chaired by the

Proposed reinsurance company will help strengthen relationships with Indian reinsurers: Roy

Insurance Board is planning to open the reinsurance company in the country to retain the foreign exchange that the insurance companies have been paying to the foreign reinsurance companies. “It is a very welcome move that the Nepal market has

CIB nabs Shrestha

Central Investigation Bureau (CIB) under Nepal Police today arrested former chief executive of Everest Insurance Kebal Krishna Shrestha for his alleged involvement in embezzlement in funds of the company. “Shrestha has been accused of spending the company’s Rs 25.08 million