KATHMANDU: Kavi Phuyal, who resigned from his post before the start of his second term at IME Life Insurance, has resigned from the post of Senior Deputy Chief Executive Officer of Sun Nepal Life.
According to sources, Phuyal has resigned from the post with effect from Friday. Phuyal, who left IME Life, had joined Sun Nepal Life in February 2081 after being away from the profession for about 6 months. He resigned from IME Life immediately after the completion of his first term and joined Sun Nepal Life as the Senior Deputy Chief Executive Officer.
The Board of Directors of IME Life on August 23, 2020 had decided to appoint Phuyal for the first four-year term on August 28, 2081.
Phuyal is the only CEO of IME Life who has not only completed the full 4-year term in the 7-year period since the inception of the business of IME Life but also renewed the agreement for the second term. Prior to this, both Rakesh Pokharel and Shree Chandra Bhatt could not serve a full term as CEO. After Bhatta’s resignation, Phuyal resigned from the post of market head of Citizen Life Insurance Company and took over the leadership of IME Life on August 4, 2020.
Kapil Dahal, the chief executive officer of Himalayan Life Insurance Company, has been suspended after a criminal case was filed on June 28. The company had sought an application for the appointment of a new chief executive, but the process of appointment has been put on hold after a writ petition was filed in the Supreme Court.
