Sharad Ojha Appointed Chairman, Nepal Insurance Regulatory Authority (NIA)
25th February 2025, Kathmandu
The Government of Nepal has appointed Sharad Ojha as the new Chairman of the Nepal Insurance Authority. The decision was made during a Cabinet meeting held today under the leadership of Prime Minister KP Sharma Oli.
Sharad Ojha Appointed Chairman
Ojha, a 33-year-old from Krishnapur-8, Kanchanpur, will serve a four-year term, following the Insurance Act, of 2079, which governs the appointment process.
Cabinet’s Decision
The Cabinet selected Sharad Ojha for the position after reviewing the recommendations from the Chairman Selection Committee. The committee had proposed three candidates: Ramsharan Pudasaini, a former government secretary, Dr. Damodar Basola, and Sharad Ojha. The Government chose Ojha, considering his qualifications and experience.
The Selection Process
Earlier, the Government had called for applications for the Chairman position on Poush 26, 2079. Out of 12 applicants, five candidates were shortlisted. These included Chiranjibi Chapagain, Kamala Prasad Regmi, Dr. Damodar Basola, Ram Sharan Pudasaini, and Sharad Ojha. Each shortlisted candidate presented their credentials, and the selection committee recommended three candidates, from which Ojha was chosen.
Background of Sharad Ojha
Before taking up this role, Sharad Ojha was involved in journalism and teaching. He has considerable experience in public affairs, which makes him well-suited for leading the Nepal Insurance Authority. His diverse background is expected to bring fresh perspectives to the role and help strengthen the regulatory environment of the insurance sector.
Previous Chairman’s Resignation
The previous Chairman, Madan Dahal, had temporarily taken over as Acting Chairman following the resignation of Dr. Chandra Bahadur Adhikari. Dahal held the position until the new Chairman was appointed.
The Importance of the Appointment
The Nepal Insurance Authority plays a critical role in regulating the insurance industry and ensuring compliance with national laws. As the new Chairman, Ojha will be responsible for overseeing the implementation of policies that protect consumers and promote industry growth. His appointment is expected to improve the governance and operations of the insurance sector.
Looking Ahead
With Sharad Ojha at the helm, the Nepal Insurance Authority is set to face challenges in the insurance sector, particularly in consumer protection and regulatory enforcement. His leadership promises to bring innovation and improvements to the industry, enhancing public trust and industry standards.
Overall, the Government of Nepal is committed to strengthening regulatory bodies like the Nepal Insurance Authority, and Ojha’s appointment reflects this ongoing effort. The insurance sector is expected to grow under his leadership, ensuring fair practices and long-term stability.