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The Nepal Insurance Authority has instructed all insurance companies engaged in life insurance, non-life insurance and reinsurance business to establish an 'Investment Management Unit'.
In order to manage the investment, the insurance company has been instructed to establish an "Investment Management Unit" under the authority of high management level employees with investment-related work experience and inform the authority within seven days. Similarly, the authority has instructed the micro insurance companies doing micro insurance business to give information to the authority within seven days by assigning the responsibility to high management level employees with related work experience for investment management work.
The authority has asked the insurance company to inform them if they have already implemented the investment-related provisions.
