Country: Nepal Page 1 / 1
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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.
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- January 25 2023
US$10.5m estimated air crash loss raises concerns over Nepal’s aviation sector
IAN understands that Nepali insurers usually only take up 3% of the ratio of the loss payout.
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- November 10 2022
Nepal’s regulator rebrands as new Insurance Bill enacted
The Nepal Insurance Authority, previously known as Beema Samiti, will keep the same board.
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- November 3 2021
Nepal chamber objects to Insurance Board’s premium minimums—report
The Federation of Nepalese Chambers of Commerce and Industry says the move runs counter to the idea of an "open economy".
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- August 16 2021
Nepal’s Himalayan General and Sagarmatha to merge: report
If the deal goes ahead it could create the country's largest insurance firm.
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- August 12 2021
China’s record floods dominate July’s Asia claims
Aon reports says US$1.7bn of insured losses is highest nat cat payout for the Chinese insurance industry on record.
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- June 2 2021
Himalayan Reinsurance wins Nepal operating licence
The firm beat out four other applicants to join Nepal Re as the country's second reinsurer.
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- May 24 2021
Nepal’s IB receives five applications for reinsurance licence–report
The Insurance Board requires applicants to have paid-up capital of around US$85m.
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- May 11 2020
Five years on: Asia’s lessons from Nepal’s 2015 earthquake
Much more effort is required to build nat cat resiliency according to Aon, Munich Re and RMS.
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- June 9 2016
Firms settle nearly 90% of earthquake claims in Nepal
Nepal's insurance regulator says that claims worth US$107m have been settled out of an estimated US$156m of total claims.
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- June 3 2016
Philippine insurance regulator named first Mefin head
Emmanuel Dooc will chair the newly created Mututal Exchange Forum on Inclusive Insurance in Asia.
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- April 29 2016
Everest Bank, MetLife Nepal ink bancassurance deal
The deal represents a rare bancassurance tie-up in one of the poorest countries in Asia.
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- May 9 2015
Economic cost of Nepal earthquake could reach US$5bn – Aon
More than 700,000 homes, buildings and historical sites were damaged or destroyed.
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- May 6 2015
After Nepal quake, Indian insurers seek mandatory building code
Authorities asked to make earthquake-resistant construction codes mandatory.
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- April 28 2015
Nepal earthquake to expose developing nations’ low insurance penetration
Spending on property-casualty coverage less than US$4 per capita annually.
