Himalayan Reinsurance Company has been granted a license to operate as a new reinsurance company. The Ministry of Finance has issued a preliminary letter of intent to the corporation based on the Insurance Board’s recommendations. Himalayan Re can now register the company at the Company Registrar’s office.
The Insurance Board (Beema Samiti) had officially requested a proposal to award a license to a new reinsurance firm from Baisakh 16, 2078 BS to Jestha 5, 2078 BS.
Himalayan Reinsurance was one of the applicants who was granted the license.
Shekhar Golchha, Bhavani Rana, Pashupati Murarka, Satish More of Lucky Group, Shahil Agrawal and Sulabh Agrawal of Shankar Group, Bikas Dugad of K.L Dugad Group, Vivek Dugad of M.V Dugad Group, and others are among those who support Himalayan Reinsurance Company.
Nepal Reinsurance Company is now undertaking a reinsurance business in Nepal.
Himalayan Reinsurance was granted a license, bringing the total number of reinsurance businesses to two.