Reinsurance is the strength of insurance because it supports risks of loss to be spread more widely across companies and borders which is essential for every Insurance companies.
Keeping in mind, Nepal Life has Re-insured itself with;
1. “Hannover Re Life Reinsurance Company”, Germany
2. “Nepal Reinsurance Company Limited” , Nepal
Hannover Re, is one of the leading reinsurance company, is a European and worldwide 3rd largest reinsurance company, rated as AA- (“Very Strong”), stable outlook by Standard & Poor’s and A+ (“Superior”), stable outlook by A.M. Best.
Its headquarters is in Hannover, Germany. It conducts all types of life and non-life reinsurance. Nepal Life has long business relationship with Hannover Re. It is our reinsurer partner since company’s inception.
The company has also re-insured with “Nepal Reinsurance Company limited “which is the first reinsurance company in Nepal. It plays vital role in risk management of national as well international insurance companies
Nepal Life is doing reinsurance with Nepal Re on the basis of direct cession.