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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the minimum paid-up capital was Rs 2 billion for life insurance companies and Rs 1 billion for non-life insurance companies. A meeting of the board of directors of IBN on Thursday decided to increase the limit. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has instructed the companies to increase their paid-up capital by mid-April 2023. "The companies will have to submit a plan to increase their paid-up capital to the board within 30 days," Poudel said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that companies can also issue rights shares to increase their paid-up capital. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the minimum paid-up capital was Rs 2 billion for life insurance companies and Rs 1 billion for non-life insurance companies. A meeting of the board of directors of IBN on Thursday decided to increase the limit. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has instructed the companies to increase their paid-up capital by mid-April 2023. "The companies will have to submit a plan to increase their paid-up capital to the board within 30 days," Poudel said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of the board Surya Prasad Silwal said that the companies should go for merger if they do not increase their capital within the stipulated time. "Now the companies have to increase the paid-up capital within one year. If not, they will have to merge,” he said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that companies can also issue rights shares to increase their paid-up capital. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has instructed the companies to increase their paid-up capital by mid-April 2023. "The companies will have to submit a plan to increase their paid-up capital to the board within 30 days," Poudel said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that companies can also issue rights shares to increase their paid-up capital. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
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March 25: The Insurance Board Nepal (IBN) has decided to increase the paid-up capital of life and non-life insurance companies. The board has decided to raise the minimum paid-up capital of life insurance companies to Rs 5 billion and non-life insurance companies to Rs 2.5 billion.
Earlier, the minimum paid-up capital was Rs 2 billion for life insurance companies and Rs 1 billion for non-life insurance companies. A meeting of the board of directors of IBN on Thursday decided to increase the limit.
Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board.
"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital."
He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition.
The board has instructed the companies to increase their paid-up capital by mid-April 2023. "The companies will have to submit a plan to increase their paid-up capital to the board within 30 days," Poudel said.
Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund.
Chairman of the board Surya Prasad Silwal said that the companies should go for merger if they do not increase their capital within the stipulated time. "Now the companies have to increase the paid-up capital within one year. If not, they will have to merge,” he said.
Furthermore, he said that companies can also issue rights shares to increase their paid-up capital.
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that companies can also issue rights shares to increase their paid-up capital. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has instructed the companies to increase their paid-up capital by mid-April 2023. "The companies will have to submit a plan to increase their paid-up capital to the board within 30 days," Poudel said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
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'summary' => 'March 25: The Insurance Board Nepal (IBN) has decided to increase the paid-up capital of life and non-life insurance companies. ',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">March 25: The Insurance Board Nepal (IBN) has decided to increase the paid-up capital of life and non-life insurance companies. The board has decided to raise the minimum paid-up capital of life insurance companies to Rs 5 billion and non-life insurance companies to Rs 2.5 billion. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the minimum paid-up capital was Rs 2 billion for life insurance companies and Rs 1 billion for non-life insurance companies. A meeting of the board of directors of IBN on Thursday decided to increase the limit. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has instructed the companies to increase their paid-up capital by mid-April 2023. "The companies will have to submit a plan to increase their paid-up capital to the board within 30 days," Poudel said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of the board Surya Prasad Silwal said that the companies should go for merger if they do not increase their capital within the stipulated time. "Now the companies have to increase the paid-up capital within one year. If not, they will have to merge,” he said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that companies can also issue rights shares to increase their paid-up capital. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the minimum paid-up capital was Rs 2 billion for life insurance companies and Rs 1 billion for non-life insurance companies. A meeting of the board of directors of IBN on Thursday decided to increase the limit. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of the board Raju Raman Poudel said that the decision was taken to increase the paid-up capital targeting risk-based capital. He said that the decision was taken based on the guidelines on risk-based capital that was issued by the board. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the business of insurance companies are growing, the risk they incur is also increasing. However, the paid-up capital of the companies is not sufficient to face such risks," he said, "So we have tried to increase the risk-bearing capacity by increasing the paid-up capital." </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that it would also help in encouraging companies to merge with each other, maintaining appropriate number of companies, maintaining large capital and creating healthy competition. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has instructed the companies to increase their paid-up capital by mid-April 2023. "The companies will have to submit a plan to increase their paid-up capital to the board within 30 days," Poudel said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Provision has also been made for foreign companies to deposit a certain amount of paid-up capital in a separate fund. Currently, foreign insurance companies operating in Nepal do not have paid-up capital. They are operating here as a branch offices. The board insists that they should keep the an amount equal to the paid-up capital in the designated fund. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of the board Surya Prasad Silwal said that the companies should go for merger if they do not increase their capital within the stipulated time. "Now the companies have to increase the paid-up capital within one year. If not, they will have to merge,” he said. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that companies can also issue rights shares to increase their paid-up capital. </span></span></p>
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