Country: Nepal Page 1 / 2
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- September 4 2026
AM Best downgrades Himalayan Re amid CEO arrest, fraud investigation
Rating agency downgrades Neaplese reinsurer's ratings to B (Fair) and places them under review with negative implications.
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- September 2 2026
Nepal flood claims top US$170m as death toll surpasses 1,100
Oriental Insurance receives the highest claim volume, while engineering and construction risk policies have taken the hardest hit.
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- August 30 2026
International reinsurers to absorb most insured losses from Nepal flash floods: AM Best
Insured exposure is expected to be concentrated on commercial risks, primarily hydropower assets, infrastructure projects, and properties along the Nepal-China trade corridor.
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- August 28 2026
Nepal flash floods insured losses could top US$1bn, spilling into reinsurance
Major international and regional reinsurers, including Hannover Re, GIC Re, Saudi Re, and Kenya Re, face material exposures via direct and retrocession programs.
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- August 27 2026
Deadly flash flood on Nepal-China border leaves widespread destruction
More than 270 people have died, while over 1,000 are still missing following the event on Wednesday morning.
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- May 14 2026
Nepal drought triggers US$100,000 parametric payout to farmers
First-of-its-kind payout in Nepal, which was as designed by Global Parametrics, benefitted 405 people.
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- September 24 2025
Nepal’s ‘Gen Z riot’ losses impose financial strain on (re)insurers: AM Best
Outsized proportion of losses, reported to be over US$177m, could impact earnings and capital of the market, which has a combined GWP of US$317m.
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- September 19 2025
Nepal political riots claims near US$150m, regulator says
Violent protests caused widespread property damage after the parliament building, government offices, the Supreme Court and the newly-opened Hilton hotel in Kathmandu were set ablaze.
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- February 24 2025
Nepal’s Himalayan Re to generate ‘positive’ FY24 underwriting margins: AM Best
Rating agency affirms financial strength rating of B+ (Good) and a long-term issuer credit rating of bbb- (Good), with a stable outlook.
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- January 14 2025
Tibet earthquake compensation payments, pre-payments near US$5m
China's insurance industry has paid full compensation to the 126 victims of last week's deadly earthquake.
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- November 20 2024
UIB Group expands Asia footprint with representative office in Nepal
The Kathmandu office will report to the UIB Asia regional headquarters based in Singapore.
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- August 8 2024
Nepal’s Air Dynasty helicopter crash leads to US$1.4m total loss
The chopper was insured with Sagarmatha Lumbini Insurance, which already had four helicopter losses in the country in 2023, and Nepal Reinsurance is the reinsurer involved in the latest crash, IAN understands.
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- July 25 2024
Nepal air crash: 99.7% of estimated US$3m loss ceded out to foreign reinsurers
The hull and liability cover were provided by a Nepalese carrier Prabhu Insurance and reinsured with a London-based carrier through facultative cover, IAN understands.
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- January 23 2024
Nepal’s Himalayan Re granted India reinsurance licence
The privately owned reinsurer has been granted a reference number by IRDAI allowing the company to do reinsurance business from India.
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- November 6 2023
Western Nepal’s earthquake casualty losses to exceed US$2.3m: sources
Although the earthquake happened in a remote district with low presence of carriers, the liability has raised up to around US$150,000, potentially retained by local (re)insurers, IAN understands.
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- October 10 2023
Himalayan Everest Insurance in climate product pact with The Rockefeller Foundation
The Nepalese P&C player will design and launch "comprehensive" and "affordable" microinsurance with payouts linked to "climate shocks".
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- July 13 2023
Everest chopper crash signals turbulence for Nepal’s aviation fac market
IAN understands the helicopter crash this week that killed six people will cost reinsurers around US$2.5m and adds to a series of safety failures that will likely see prices and retentions soaring.
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- June 20 2023
Indian insurers count cost of ‘widespread’ Cyclone Biparjoy damage
IAN understands there is damage to property and goods at industrial zones, processing plants and ports, as IRDAI urges carriers to 'fast-track' smaller claims.
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- March 3 2023
Swiss Re, Aon team up for parametric earthquake cover for Nepal hydropower project
This is the first time that the IFC and other developmental agencies have agreed to finance a construction project backed by parametric insurance.
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- March 2 2023
Himalayan Re expected to complete US$23m IPO this month: AM Best
The rating agency has placed the Nepalese reinsurer’s rating under review with positive implications due to the proposed listing.
