10 Reinsurance broker companies got licenses from Insurance Committee

Aug Mon 2022 02:16:22

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10 Reinsurance broker companies got licenses from  Insurance Committee

Kathmandu. The insurance committee has distributed licenses to 10 reinsurance broker companies. More than a dozen companies had applied to the committee demanding the license of reinsurance brokers. Rajuraman Paudel, executive director of the insurance committee, said that the committee has given licenses to 10 companies.

Paudel, the executive director of the committee, said that after completing the process, 10 reinsurance broker companies were distributed. 

According to Paudel, the committee has started giving licenses to companies since last June. According to him, JB Boda Insurance & Reinsurance, Hub Reinsurance Broker, Alliant Reinsurance Brokers Pvt Ltd, Federal Reinsurance Brokers Pvt Ltd, Global Insurance & Reinsurance Brokers Pvt Ltd, Trust Insurance Brokers Pvt Ltd, STC Reinsurance Broker, Shubh Reinsurance Services, Avan Re The insurance broker has received approval from the insurance committee.

In the guidelines issued by the insurance committee, it is mentioned that five crore rupees should be paid up capital to operate a reinsurance broker company.