CEOs of different life insurance providers come together to form non-profit organization; new organization aims to contribute towards development of life insurance sector in Nepal

CEOs of different Life insurance companies of Nepal have come together to form Life Insurance Providers Association of Nepal. The main aim of this non-profit organization is to mediate between the insurance companies and the regulatory body, Beema Samiti, in order to frame suitable policies for the further growth of insurance market of Nepal, as per the media statement.

This organization also aims to connect the life insurance business of Nepal with foreign players by receiving membership of different international insurance agencies, to publish regular news letters about the life insurance sector of Nepal, among others.

As per the decision, the agency has elected Mr. Shivanath Pandey, CEO of Surya Life as the chairman, Mr. Nirmal Kaji Shrestha, CEO of MetLife American Life Insurance as Vice chair, Mr. Poshak Raj Paudel, CEO of Citizen Life Insurance as Secretary, Mr. Pravin Raman Parajuli, CEO of Reliance Life Insurance as Treasurer, while other general members consist of Mr. Kabi Prasad Pathak, DGM of Rastriya Beema Sansthan, Mr. Manoj Kumar Lal Karna, CEO of Union Life Insurance, Mr. Narayan Babu Lohani, CEO of Reliable Nepal Life Insurance, Mr. Raj Kumar Aryal, CEO of Sun Nepal Life Insurance and DY CEO of Jyoti Life Insurance Mr. Prakash Bikram Khatri.