First Business News Portal in English from Nepal
KATHMANDU: Himalayan Reinsurance Limited has achieved global recognition by securing a B+ rating from the renowned rating agency, AM Best, making it the first Nepali company to receive such accreditation. In just its second year of operation, the company has elevated its rating from B to B+, marking another historic milestone.
As the second-year rating upgrade from B to B+ demonstrates, Himalayan Reinsurance has rapidly expanded its business across 31 countries in Southeast Asia, the Middle East, Africa, and Europe. The B+ rating signifies the company’s robust financial position and credibility in the international reinsurance market.
The company stated, “In a short span of establishment, we have successfully expanded our operations into the reinsurance market of Southeast Asia, the Middle East, Africa, and Europe after achieving a B+ rating from AM Best. This achievement has opened doors for further business expansion and has positioned Nepal on the international map in the field of reinsurance.”
Himalayan Reinsurance’s international business growth is expected to contribute significantly to the country’s foreign exchange reserves, showcasing an exemplary contribution to Nepal’s international recognition in the reinsurance sector.
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