Kathmandu. The Nepal Insurance Authority has directed all insurance companies engaged in life insurance, non-life insurance and reinsurance business to establish an ‘Investment Management Unit’. Accordingly, insurance companies have been instructed to establish an ‘Investment Management Unit’ under the supervision of a high-level management employee with investment-related work experience to manage investments and to inform the Authority within seven days.
Similarly, the Authority has instructed microinsurance companies engaged in microinsurance business to assign a high-level management employee with relevant work experience to manage investments and to inform the Authority within seven days.
In addition, the Authority has instructed all insurance companies to inform the Authority within seven days if the insurance companies have already implemented investment-related arrangements.
