Nepal Insurers’ Association Successfully Concludes 24th Annual General Meeting
28th December 2025, Kathmandu
In a significant gathering for the non life insurance sector of Nepal, the Nepal Insurers Association held its 24th Annual General Meeting on Friday, 11 Poush 2082. The event took place at Hotel Radisson in Lazimpat, Kathmandu, serving as a vital platform for industry leaders, regulatory officials, and stakeholders to discuss the progress and future of the insurance industry.
Nepal Insurers’ Association AGM
Chaired by the Association President, Mr. Birendra Baidwar Chhetri, the meeting highlighted the collective efforts required to strengthen the insurance ecosystem in Nepal. This assembly is particularly crucial as the insurance sector faces new regulatory landscapes and the need for digital transformation to reach a broader segment of the population.
ADDRESS BY PRESIDENT AND PRESENTATION OF THE ANNUAL REPORT
President Birendra Baidwar Chhetri opened the meeting with a comprehensive welcome address and presented the Association Annual Report for the fiscal year 2081 2082. This report outlined the activities undertaken by the association over the past year, focusing on institutional coordination and policy dialogue. The report served as a retrospective look at how non life insurance companies have navigated the economic shifts of the past twelve months. It emphasized the association’s role in acting as a bridge between individual insurance companies and the regulatory authority, the Nepal Insurance Authority, to ensure that the concerns of the industry are addressed at a policy level.
ASSESSMENT OF THE NON LIFE INSURANCE MARKET DYNAMICS
A major portion of the AGM was dedicated to an in depth assessment of the current status of the insurance market in Nepal. The report addressed several emerging trends and operational challenges that non life insurers are currently facing. These include the impact of climate change on property insurance, the rise of digital insurance products, and the complexities of risk management in a volatile economy. The association noted that while there has been growth in certain segments, there is still a pressing need to enhance public awareness about the benefits of insurance. Market expansion remains a top priority, especially in rural areas where insurance penetration is historically low.
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APPROVAL OF FINANCIAL STATEMENTS AND FUTURE STRATEGIES
The assembly saw the unanimous approval of the audited financial statements for the fiscal year 2081 2082. This included a detailed review of the income and expenditure of the association, reflecting a commitment to transparency and accountability. Beyond the numbers, the members endorsed a set of future plans and strategic priorities. These strategies are aimed at improving the efficiency of claim settlements and fostering greater trust among policyholders. The members agreed that for the industry to grow sustainably, insurance companies must focus on customer centric services and leverage technology to streamline their internal processes.
FOCUS ON REINFORCING SECTORAL TRUST AND ACCESS
One of the most critical outcomes of the 24th AGM was the adoption of decisions focused on reinforcing the insurance sector’s integrity. Participants emphasized that increasing insurance penetration is not just about sales but about building long term trust. This involves improving the transparency of policy terms and ensuring that the claim process is hassle free for the common citizen. The meeting underscored the importance of collaborative efforts between insurers and regulators to create a stable environment that protects the interests of both the companies and the policyholders. Expanding insurance access nationwide was identified as a key metric for the association success in the coming years.
EVOLVING ROLE OF THE NEPAL INSURERS ASSOCIATION
The meeting highlighted the evolving role of the Nepal Insurers Association as a proactive representative body. No longer just a discussion forum, the association has become a critical player in policy advocacy and capacity building for the industry. By organizing workshops, training sessions, and industry coordination meetings, the association is helping to standardize best practices across different non life insurance companies. This institutional strengthening is vital as the insurance market becomes more competitive and integrated with the global financial system. The association continues to champion the cause of non life insurers while maintaining a focus on the broader public interest.
CONCLUSION AND FUTURE OUTLOOK FOR THE INDUSTRY
In conclusion, the successful completion of the twenty fourth Annual General Meeting of the Nepal Insurers Association marks a positive step forward for the insurance industry in Nepal. President Birendra Baidwar Chhetri expressed his gratitude to all participants and reaffirmed the commitment of the association to lead the sector toward a more stable and inclusive future. As the industry looks toward the next fiscal year, the focus will remain on sectoral reform, financial stability, and expanding coverage. Such forums are essential for aligning the goals of various stakeholders and ensuring that the insurance industry remains a robust pillar of the national economy.
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