Protective Micro Insurance Appoints New Chairman
27th November 2025, Kathmandu
Protective Micro Insurance Limited has announced the appointment of Dinesh Sariya as the new Chairman of its board of directors.
Protective Microinsurance New Chairman
The appointment was formalized through a customary oath of office and confidentiality ceremony, signifying the official commencement of his tenure and the company’s adherence to regulatory protocols.
The oath was administered by Janak Raj Sharma, the Chairman of the Nepal Insurance Authority (NIA), at the authority’s central office located in Kupandol, Lalitpur. The NIA, as the apex regulator for the insurance sector in Nepal, plays a critical role in overseeing the governance and compliance of all insurance companies, including those specializing in microinsurance.
Significance of the Appointment and Oath-Taking
The ceremony for the Chairman’s oath of office is more than just a formality; it is a legally mandated procedure that underscores the serious commitment to ethical governance and regulatory adherence required of the highest leadership within a financial institution.
Regulatory Oversight: The fact that the NIA Chairman, Janak Raj Sharma, personally administered the oath emphasizes the regulatory authority’s direct involvement and scrutiny in the appointment of key personnel, particularly at the board level. This ensures that the newly appointed chairman is aware of and commits to upholding the principles of the Insurance Act, 2079, and all directives issued by the authority.
Commitment to Confidentiality: The oath includes a specific pledge of confidentiality, which is paramount in the financial and insurance sectors. This binds the chairman to protect sensitive customer data, corporate strategies, and proprietary information, thereby safeguarding the company’s and its clients’ interests.
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Witnesses and Attendees: The ceremony was attended by high-ranking officials from both the regulatory body and the company itself. Attendees from the Nepal Insurance Authority included Executive Director Sushil Dev Subedi and Director Shambhu Raj Lamichhane, alongside officials from Protective Micro Insurance Limited. The presence of these key figures further legitimizes the appointment and signals a constructive working relationship between the regulator and the supervised entity.
Focus on Micro Insurance in Nepal
The appointment of a new chairman comes at a crucial time for the microinsurance sector in Nepal, which is actively expanding its reach to underserved populations.
Sector Importance: Microinsurance companies play a vital role in extending insurance protection to low-income individuals and small-scale entrepreneurs who are typically excluded from traditional insurance markets. Their products are characterized by low premiums, simple policy features, and easy claims procedures, making them accessible to a wider demographic.
Protective Micro Insurance’s Role: The new chairman, Dinesh Sariya, will assume leadership at a time when the company is expected to champion financial inclusion and expand its services into remote and rural areas. This involves not only selling policies but also developing innovative distribution models and ensuring quick claims settlement to build public trust in the microinsurance concept.
Compliance and Governance: Under the new chairmanship, Protective Micro Insurance Limited will be expected to maintain exemplary standards of corporate governance and risk management. The NIA has placed increasing emphasis on the financial health and operational integrity of all insurance companies, demanding robust internal controls to protect policyholders’ funds. The new chairman’s mandate will include steering the company through these rigorous compliance requirements while achieving market growth.
The successful oath-taking ceremony on Mangsir 11, 2082, formally installs Dinesh Sariya as the leader of Protective Micro Insurance Limited, positioning the company for its next phase of growth and development within Nepal’s dynamic microinsurance landscape under strict regulatory oversight.
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