IGI Prudential Insurance Chairman Calls for Expansion into Foreign Markets Following Domestic Improvements

Hemraj Dhakal, Chairman of IGI Prudential Insurance Limited, stated that improvements in the capital and management of Nepali insurance companies have positioned them to expand services to foreign countries.

Addressing the inauguration ceremony of the new central building of IGI Prudential Insurance Limited, Chairman Hemraj Dhakal also urged the Insurance Board to facilitate service expansion first into South Asia and Africa.

Chairman Dhakal further mentioned that the time has come for Nepali insurance companies to establish themselves as global entities, similar to how foreign insurance companies have expanded their market presence in Nepal.

On the occasion, Sushildev Subedi, Executive Director of the Nepal Insurance Authority, assured policy support from the regulatory body for the goal and vision of expanding Nepali insurance business into the global market.

The expansion of the insurance market appears likely due to the policy facilitation by the Insurance Authority and the goal of Nepali insurance companies to enter the global market.

Today, IGI Prudential Insurance Limited inaugurated its grand 12-story building, complete with 2 floors of parking, spread over approximately 60,000 square feet in Panipokhari, Kathmandu, from where it will provide services.