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Industry finds hope in the recommendations!
It looks like happy days are here again for the reinsurance fraternity in India, as the Reinsurance Expert Committee (REC) has recommended that after GIC Re, insurers should be allowed to obtain the best terms simultaneously from Indian reinsurers, foreign reinsurance branches, Lloyds India and cross-border reinsurers that satisfy eligibility criteria.

Source : AIR | 01 Jan 2018
General Insurance Company of the Year - 21st Asia Insurance Industry Awards 2017: Apollo Munich Health - This Award inspires us to reach new milestones
Awards are great! They are a mark of recognition given in honour of an achievement! Awards enhance a company’s brand reputation, instil confidence in customers about the quality and professionalism, and help employees take pride in their work.

Source : AIR | 01 Jan 2018
Nepal: Insurers in rush to raise capital to meet new rule
Insurers are racing to issue rights and bonus shares to meet capital requirements laid down by the Insurance Board (IB).

Source : AIR | 01 Jan 2018
Nepal: Mandatory health insurance to cover 500,000 more people in first year
Health insurance coverage could surge significantly in Nepal if a proposed health insurance law is endorsed by the Parliament. This is because the Bill provides for mandatory insurance coverage for immediate family members of those employed in formal sector, civil servants and migrant workers.

Source : AIR | 01 Oct 2017
Interview with the Nepalese Regulator: A proactive regulator bodes well for the market
In this exclusive interview with Mr Chiranjibi Chapagain, Chairman of the Beema Samiti (Insurance Board), he shares with us what he has done so far since he came on board in Jan 2017 and his thoughts and plans going forward.

Source : AIR | 01 Dec 2017
Nepal: New companies add lustre to market
The Finance Ministry of the government of Nepal granted operating licences to nine new life insurers and issued letters of intent to three non-life insurers which created a huge buzz in the market. Some of these companies have been waiting for almost a decade for approval from the government and this move has been seen as a bold step which experts believe will increase insurance awareness and penetration across the country. We speak to two senior level executives from the industry on the state of the market and the way ahead for the industry.

Source : AIR | 01 Dec 2017
Look out for these what-if scenarios - WEF's 10 potential future shocks
The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.

Source : AIR | 01 Mar 2018
India's actuarial pioneers
K A Pandit Consultants & Actuaries is India’s oldest actuarial firm and it is celebrating its 75th Anniversary this year. The firm is today a major player in the Indian market where it operates in the life insurance, non-life insurance and employee benefits space, and is also a member of Abelica Global, a global consortium of actuaries. We speak to Mr Dharmendra K Pandit, partner, on the journey so far and the role of actuaries in today’s highly automated industry.

Source : AIR | 01 Apr 2018
Bancassurance blockbuster partnership
Bancassurance is one of the main distribution channels for insurers in South Asian markets. We speak to some major players to get their perspective on the state of the market and the future for bancassurance.

Source : AIR | 01 May 2018
Nepal: Life market to usher in 10 new players
Nepal’s life insurance market is set to witness intense competition with a slew of new companies entering the sector. The government has given the go-ahead to 10 life insurance companies to begin operations, bringing the total number of these insurers in the market to 19.

Source : AIR | 01 Jul 2017
Asia: Protecting crops and farmers
Fifteen members of the collaborative UNDP-FAO Integrating Agriculture in National Adaptation Plans (NAP-Ag) Programme from Nepal, the Philippines, Thailand and Viet Nam were involved in a recent peer-to-peer exchange to discuss how proper application of climate information and applied research could inform better decision making and reduce loss.

Source : AIR | 01 Aug 2017
Nepal: Microinsurance gets a huge push
Microinsurance has now begun to gain momentum in Nepal with the release of the microinsurance directives for Nepalese insurers by the Beema Samiti (Insurance Regulatory Authority of Nepal).

Source : AIR | 01 Aug 2017
Nepal: Beema Samiti slashes premium rates for Riot Strike and Terrorism
Beema Samiti (Insurance Regulatory Authority of Nepal) has reduced premiums for Riots, Strike Damage under Fire Tariff by 25% and for Malicious, Sabotage and Terrorism by 50%. The new premium rates came into effect from 16 July. Earlier, the regulator had also reduced private car own damage premium rate to the tune of 25% to 35%.

Source : AIR | 01 Aug 2017
Nepal: Fraudsters hit insurers with costly helicopter evacuations
Dodgy operators are scamming tens of thousands of dollars from insurance companies by making multiple claims for a single chopper ride or pushing climbers to accept airlifts for minor illnesses, an investigation by the news agency AFP has revealed.

Source : AIR | 01 Aug 2018
Nepal: Number of life insurers expands by 6 since July to 15
Three life insurance firms obtained operating licences last month from Nepal’s Insurance Board (IB), the insurance sector regulator, taking the total number of life insurance companies in the country to 15.

Source : AIR | 01 Sep 2017
Regulator's initiatives to strengthen sector
Nepal Insurance Regulatory Board chairman Chiranjibi Chapagain provides an update on the state of the market and the way forward for the industry.

Source : AIR | 01 Sep 2018
Nepal Re: Readying for the long haul
Nepal Re CEO Chirayu Bhandari provides a perspective on the challenges and strategies before the company.

Source : AIR | 01 Sep 2018
The home of Everest beckons
Nepal will be the host for the 21st AIRDC this month in Kathmandu.

Source : AIR | 01 Sep 2018

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