(1) According to Section 26; If a company established in accordance with prevailing laws after taking pre-approval wants to do insurance business, it should submit an application to the authority by attaching the following details and documents:-
(a) Prior approval of the Authority for incorporation of insurance companies,
(b) Copy of Certificate of Incorporation of Insurance Company,
(c) Copy of Articles of Association and Regulations of the Insurance Company,
(d) If the founder of the insurance company is a company or an organized organization, such company or organized organization has paid tax in the last three financial years and an audit report with annual financial statements,
(e) The name of the basic shareholder of the founding company or the organized organization as per Clause (d) and the details of his single family,
(f) the type of insurance business the insurer intends to carry on,
(G) The type of insurance business (portfolio) that the insurer intends to carry out, (H) Details of the infrastructure required to operate the insurance business or a copy of the relevant agreement if the building is rented,
(i) Personal details of the executive head and other management level officials,
(h) Provisions relating to Retention of Insurance Risks,
(k) investment policy, risk assessment, _claims, reinsurance, information technology related statements,
(l) draft of proposed insurance or reinsurance contract in case of reinsurance company,
(d) Documents proving that the amount of shares agreed to be taken by the founder has been paid up,
(d) Details regarding the organizational structure of the company,
(n) Remuneration, conditions of service and facilities of employees of the company (Regulations relating to,
(p) Financial administration and purchase regulations of the company,
(h) Other details and documents determined by the authority.
(2) When a branch office of a foreign insurance company submits an application for conducting insurance (business), in addition to the details mentioned in sub-section (1), the following details shall also be attached:- (a) The regulatory body of the respective country for such foreign insurance company to conduct insurance business in Nepal. License granted,
(b) such foreign beamThe company's branch office is registered in Nepal at Nissa,
(c) If there is any difference in the details submitted by such foreign insurance company as per section 26 after taking pre-approval from the authority for registering the branch office of such insurance company, (d) Other details and documents determined by the Authority.