Nepal Life Insurance Denies Allegations of Misused Funds in Share Purchases

Nepal Life Insurance Company Limited has clarified that recent reports alleging misuse of funds by Dipak Bhatta, a major shareholder of Himalayan Reinsurance Company Limited, to purchase shares of Nepal Reinsurance Company Limited through its subsidiary and broker No. 55 are false.

The company emphasized that neither Dipak Bhatta nor Broker No. 55 was involved in any such transactions. Nepal Life Insurance reaffirmed its commitment to full compliance with prevailing laws, regulatory standards, and principles of corporate governance, assuring all stakeholders of its transparent and lawful business practices.