In the wake of catastrophic events and rapid changes in the global business environment, it is increasingly crucial for Insurers to adopt adequate and effective reinsurance arrangements. Weaknesses in an Insurer’s reinsurance arrangements may impair its liquidity or capital positions and possibly affect its ability to meet its obligations to policyholders. This, in turn, can severely erode confidence and upset stability in the financial system.
Currently, the main challenges faced by the company is the legacy brought in from Insurance Pool lack of technology expertise in the field etc. As company is first of its kind and considering the lack of experience in the Nepalese market. The great effort would be needed to develop company in line with international reinsurance companies and sustain in domestic and international market. In the existing scenario it seems to be develop competitive human resource team, to improve globally recognized information and technology system, to increase business promotion methodology (Nationally & Internationally), to make good relation between clients, stakeholder, regulators, Government etc.
I will give my full energy to enhance the company strength which will help me to reach destination of the company visioned by Nepal Government in Insurance Industry and other stakeholders as well.