According to the decision of the Authority on May 12, the company has been directed not to start new reinsurance business until the end of Ashhad end of the FY 2082/83 as per the sub-section (1) of Section 136 of the Insurance Act, 2079.
However, the authority has continued the retrocession and payment of reinsurance claims for the existing reinsurance business.
The authority based at Kupondole, Lalitpur has published this notice on 31/01/2083 as per the sub-section (4) of Section 136 of the Insurance Act, 2079 and informed the stakeholders.
