Insurance law of Nepal is mainly based on Insurance Act 2079 (2022) and Insurance Rules 2081 (2025).
Nepal Insurance Authority (formerly called Insurance Board) (NIA) is empowered as the regulatory agency to regulate insurance businesses. NIA has issued a number of directives and circulars that are also part of the Insurance Law of Nepal.
Insurance Act prescribed following categories of insurance businesses:
(a) Insurance Businesses–
– Life Insurance
– Non-Life Insurance
– Reinsurance
(b) Other Insurance Related businesses
- Insurance Intermediary – insurance agent, insurance surveyor, insurance broker, third party facilitator or other insurance intermediaries that have obtained license from authority.
- Insurance Broker – any insurance mediator individual or corporate body obtaining a license to work as an insurance broker in the insurance business.
- Insurance Agent
- Insurance Surveyor
- Third party facilitator
License form NIA is required to operate any kind of insurance business in Nepal.
A foreign insurance company may establish a subsidiary company in Nepal by entering into a joint-venture with the local company, or establish a branch office or liaison office, by obtaining pre-approval and license from NIA.
Disclaimer: The contents of this page are for general information purposes only and shall not be construed as legal advice. Please contact our legal professionals for accurate assistance.
Our Services:
- advice to insurance businesses
- assistance in establishment
- legal representation in insurance related litigation, proceedings