Himalayan Reinsurance Limited Resume New Business After Two-Month Restriction
Summary
Himalayan Reinsurance Limited has resumed underwriting new business after a two-month restriction expired following an investigation by the Nepal Insurance Authority involving an alleged money laundering case.
Key Points
- Himalayan Reinsurance Limited is allowed to resume underwriting new business after a two-month suspension.
- The restriction was imposed by Nepal Insurance Authority linked to an alleged money laundering case.
- No decision has been made to extend the restriction beyond Ashad, so the reinsurer can operate normally now.
- The national insurance pool operation responsibility has been shifted to Nepal Reinsurance Company in the current fiscal year.
