Federal Govt mandates for 20% compulsory reinsurance; Rastriya Bima Sansthan gets all 100% reinsurance with Nepal Reinsurance Company

Rastriya Bima Sansthan has signed up for 100% reinsurance facility with Nepal Reinsurance Company on Poush 5, 2075. The MoU regarding the same was signed amid a program between CEO of the only reinsurance company of the nation Mr. Chirayu Bhandari and Director of RBS Mr. Kabi Prashad Pathak.

Following the agreement, both the insurance stakeholders will  be benefited in terms of greater insurance coverage and prevention of flow of country’s currency out of the country for reinsurance purpose, as mentioned in the media statement.