Non-life insurer earned a 'AA+(idn)' National IFS rating as Fitch cited stronger profitability, adequate capitalisation, and majority ownership by South Korea's Hanwha Life Insurance.
He will be stepping down on May 2026, having overseen the regulator’s biggest restructure in 15 years, a doubling of investigations, and a 20% rise in civil proceedings.
While the Taiwanese insurer continues to demonstrate very strong capital and earnings, S&P warned that its reliance on Mega Bank leaves it exposed to group-level risks.
Violent demonstrations in Kathmandu caused extensive damage to businesses and institutions, with reinsurance, primarily through Nepal Re, expected to cover the majority of industry losses.
