Kathmandu. Finance Minister Dr. Prakasharan Mahat said that the number of insurance companies has increased.
Addressing the 55th anniversary program of the insurance company, he said that the policy of giving license to many insurance companies was wrong. Mahat said that the insurance sector needs to be competitive, result-oriented and healthy, and now course correction is necessary.
Stating that the government has given high priority to insurance and health insurance is running in parallel, the challenge is how to bring it under one umbrella. Minister Mahat also objected to the amendment of the regulations to benefit the Himalaya Reinsurance Company.
He said that significant progress cannot be made if the structures connected with the Ministry of Finance and the Ministry do not play an interventionist role.