25th September 2025, Kathmandu
Sanima Reliance Life Insurance Limited has successfully completed a two-day residential training program for its employees, focusing on corporate ethics, workplace culture, and, most importantly, compliance with anti–money laundering (AML) and counter-terrorist financing (CFT) regulations.
Sanima Reliance Completes Residential Training
The initiative, titled “Institutional Ethics and Corporate Culture, and the Prevention of Money Laundering and Terrorist Financing,” brought together senior executives and key staff members from the company’s head office. The program underscores the company’s commitment to not only fostering a positive work environment but also to meeting its stringent regulatory obligations in Nepal’s evolving financial landscape. This is a crucial step for the company, especially given that the Nepal Insurance Authority (NIA), which regulates the country’s insurance sector, has recently issued new directives and a work plan for AML/CFT, highlighting the increased regulatory scrutiny on financial institutions.
Key Highlights of the Training Program
The training was designed to provide a comprehensive understanding of ethical conduct and financial compliance. Participants, including senior management such as CEO Shivanath Pandey, Senior Deputy CEO Rakesh Pokharel, and Deputy CEO Nirajan Kandel, engaged in detailed sessions led by experts from both the Nepal Insurance Authority and Synergy Milestone, a professional training organization.
Regulatory Compliance: Padam Prasad Sodari, Deputy Director of the Nepal Insurance Authority, provided an in-depth session on the prevention of money laundering and terrorist financing. He detailed the national and international regulatory frameworks and highlighted “red-flag indicators” that employees should watch out for. His presentation reinforced the critical responsibility of insurance companies in detecting and reporting suspicious transactions to help combat financial crimes. This part of the training is of paramount importance as Nepal faces increased international pressure to strengthen its AML/CFT framework.
Corporate Ethics and Culture: Trainers from Synergy Milestone led sessions focused on internal values and ethical standards. These sessions provided practical strategies for fostering a harmonious workplace and maintaining respectful relationships with colleagues, clients, and other stakeholders. The training emphasized that a strong corporate culture is a fundamental component of effective compliance and sustainable business growth.
CEO Shiva Nath Pandey underscored the company’s full commitment to compliance, stating that Sanima Reliance Life Insurance will leave “no stone unturned” in adhering to all regulatory directives. He also encouraged employees to apply the lessons learned in their daily work to improve both their professional and personal efficiency.
Significance for Sanima Reliance Life and Nepal’s Insurance Sector
This training program is more than just a routine professional development exercise; it is a strategic investment in the company’s long-term sustainability and credibility. By proactively educating its workforce on AML/CFT, Sanima Reliance Life is positioning itself as a responsible and trustworthy insurer in a market where public trust is vital. The insurance sector, like the banking sector, is vulnerable to being used for illicit financial activities. By enhancing its internal controls and employee awareness, the company is directly contributing to mitigating these risks. This is especially relevant in the context of recent socio-political events, such as the Kathmandu riots, which have highlighted how vulnerable Nepal’s financial institutions are to unexpected events and how crucial it is to have robust risk management frameworks in place.
The company, which was formed from the merger of Sanima Life and Reliance Life in 2023, has rapidly grown its presence in Nepal. It currently serves customers through 169 branches and sub-branches and offers 18 different life insurance plans. With a network of more than 21,000 agents, the company is dedicated to expanding life insurance awareness and accessibility nationwide. Investing in a highly skilled and ethically-conscious workforce is a key step in supporting this growth and ensuring that the company maintains its high standards of service and integrity.
The company’s proactive approach sets a strong example for other insurers and financial institutions in Nepal. As the country’s financial regulatory environment continues to mature, and with stricter directives from the Nepal Insurance Authority, such training programs will become increasingly vital. They not only help to build a workforce that is capable of managing regulatory complexities but also enhance the overall reputation and stability of the entire insurance industry. The program demonstrates that by investing in employee education, companies can drive compliance, improve service quality, and build a positive work environment, all of which are essential for sustainable growth in the competitive and rapidly expanding Nepali market.