30th October 2025, Kathmandu
Himalayan Life Insurance Limited has concluded a significant executive transition by formally appointing Mr. Kapil Kumar Dahal as its new Chief Executive Officer (CEO).
Kapil Kumar Dahal Appointed as CEO
The board’s decision, made on October 29 (Kartik 12, 2082), elevates Mr. Dahal from his previous roles as Deputy CEO (DCEO) and Acting CEO, signaling the company’s commitment to leadership continuity, operational stability, and reinforcing stakeholder trust following a period of internal challenge. This move is particularly pivotal as the Nepali insurance sector grapples with heightened competition, evolving customer expectations, and strict regulatory oversight.
A Transition Focused on Continuity and Expertise
The formalization of Mr. Dahal’s leadership follows the resignation of former CEO, Mr. Manoj Kumar Lal Karn, which occurred amidst internal issues including staff and agent protests. Mr. Dahal was initially entrusted with the role of Acting CEO to ensure a seamless continuation of administrative and managerial operations, successfully guiding the organization through this transitional phase.
Proven Leadership: The board’s confirmation is a direct recognition of Mr. Dahal’s proven leadership ability and his long-standing contribution to the company. His tenure has been characterized by a strong focus on operational efficiency and workforce management, which are crucial for navigating the demanding environment of the financial services sector in Nepal.
Stabilizing the Organization: Coming from within the company, Mr. Dahal brings not only technical expertise but also a deep understanding of Himalayan Life Insurance’s culture and long-term vision. His promotion is viewed by stakeholders as a critical step toward resolving recent internal tensions, boosting employee morale, and stabilizing the organization to allow a renewed focus on its core mission.
The Evolving Landscape of Nepal’s Life Insurance Sector
Mr. Dahal assumes the CEO role at a moment when the Nepali life insurance industry is facing a dynamic and challenging operational environment. The sector, while witnessing growth in transaction volume, is simultaneously confronting hurdles that demand resilient and strategic leadership.
Heightened Competition and Stricter Regulation: Nepal’s insurance market is marked by intense competition, which prevents proportional net earnings growth despite increasing transaction volumes. Simultaneously, the industry operates under a regime of stricter regulatory oversight from the Insurance Board of Nepal, emphasizing compliance, governance, and financial discipline. This twin pressure requires a CEO capable of balancing aggressive market expansion with disciplined internal controls.
The Challenge of Fund Mobilization and Trust: A persistent challenge is the effective mobilization of collected funds into compulsory and suitable investment sectors as dictated by the regulator, which mandates that companies must invest a significant portion of their investable funds in specific areas. Furthermore, the lack of sufficient public trust in the insurance concept, particularly in rural and less-literate populations, remains a key hurdle for market expansion.
Responding to Industry Shocks: The sector has also been subject to broader economic and social instability. Recent reports indicate that insurance companies have had to disburse significant advance claim payments for damages related to social unrest, placing pressure on reserves and requiring agile financial management. For Himalayan Life Insurance, which maintains a substantial Life Insurance Fund (reported to be around Rs 73.77 billion in recent filings) and has a paid-up capital of over Rs 9 billion, navigating these industry shocks while maintaining financial resilience is a primary concern.
A Strategic Path for Himalayan Life Insurance
Under the new leadership, Himalayan Life Insurance is poised to accelerate its strategic goals, focusing on sustainable growth drivers and organizational strength.
Enhancing Stakeholder Value: The expectation is that Mr. Dahal will champion policies to enhance agent relations and customer trust. Since agents are the primary interface for new business and retention, improving their morale and support systems is key to driving premium growth. Concurrently, strengthening customer-centric service is essential for long-term policyholder value, especially as customers increasingly expect seamless digital capabilities and transparent communication.
Digital and Market Expansion: The company’s stated goal is to expand its market presence and digital capabilities to deliver innovative and accessible financial protection products. This is crucial for reaching Nepali families across urban and rural areas, leveraging digital platforms to simplify policy application, premium collection, and claims processing. Himalayan Life Insurance’s focus on technology must align with the global trend of increased automation and use of systems like Underwriting Rule Engines (URE) to speed up approvals and ensure better consistency.
Reinforcing Corporate Governance: Given the internal challenges that preceded the transition, Mr. Dahal’s leadership will be instrumental in strengthening corporate governance and ensuring a culture of transparency and operational excellence. This renewal of focus is fundamental to securing the trust of the Insurance Board, investors, and the general public, thereby reinforcing the company’s reputation for reliability.
The appointment of Kapil Kumar Dahal as CEO marks a definitive new chapter for Himalayan Life Insurance Limited, one explicitly directed at achieving internal harmony and sustainable external growth in Nepal’s increasingly complex financial sector.
For More: Kapil Kumar Dahal Appointed as CEO