Kathmandu. Himalayan Reinsurance has been given the responsibility of working as the manager of foreign employment life insurance bridge.
Nepal Insurance Authority (NEA) has given himalayan re the responsibility of collective insurance fund and account operation and management. According to the NRA, himalayan reli will operate and manage the fund and account of the collective insurance fund to deposit the amount received for foreign employment insurance at present with the mutual consent of both the reinsurers.
According to section 5 of the Directive on Operation of Foreign Employment Term Insurance Bridge, 2081, every reinsurance licensed by the AUTHORITY will work as a fund manager alternately for 4-4 years.
As per the directive, nea has given the responsibility of operating the insurance bridge to Himalayan Re for the next four years. Now the AUTHORITY has directed the life insurer and reinsurer to do so accordingly.
