On behalf of the Board of Directors, I welcome you to Nepal Reinsurance Company Limited (Nepal Re), the national reinsurer of Nepal.

Since its establishment, Nepal Re has remained committed to strengthening the resilience of Nepal's insurance industry by providing reliable, financially sound and professionally managed reinsurance capacity to the domestic market. Nepal is exposed to catastrophic perils such as earthquakes, floods, landslides, and fire, while large hydropower projects, road networks and commercial buildings have sums insured that can exceed the capacity of any single insurer. By sharing these large and catastrophic risks across domestic and international markets, Nepal Re acts as a financial shock absorber- protecting the balance sheets of ceding companies and sustaining public confidence in the sector. As the country’s economy continues to grow and the risk landscape becomes increasingly complex, ranging from natural catastrophes to emerging liability exposures, the role of a strong national reinsurer has never been more important.

Our mission is clear: to retain risk and premium within Nepal, reduce dependence on foreign reinsurance markets, and build long-term capacity that supports the sustainable development of the insurance sector. We believe that a robust reinsurance framework is not only a commercial necessity but a national priority, contributing directly to financial stability and economic security.

Over the past year, Nepal Re has continued to strengthen its business discipline, expand its technical expertise, and deepen relationships with cedants, brokers, and international reinsurance partners. We have placed particular emphasis on prudent risk management, sound corporate governance, and adherence to international best practices, ensuring that our growth remains sustainable and consistent with global standards.

We remain guided by the principles of transparency, integrity, and accountability in everything we do. Our relationships with our stakeholders- policyholders, ceding companies, regulators, shareholders, the government, and international partners- are built on trust, and we take that responsibility seriously.

Looking ahead, Nepal Re is committed to further strengthening its capital base, enhancing its technical capabilities, and exploring new lines of business and regional partnerships that will position the company as a credible and respected reinsurer, both within Nepal and across the region.

I extend my sincere gratitude to my fellow Board members, to the management and employees of the Company for their continued dedication, and to our clients and partners for the trust they have placed in us. Together, we look forward to building a stronger and more resilient future for Nepal's insurance and reinsurance industry.

Amrit Lamsal

(Chairman, Board of Directors)

Nepal Reinsurance Company Limited (Nepal Re)