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Insurance Companies told to Unveil Financial Report in Compliance to NFRS

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Insurance Companies told to Unveil Financial Report in Compliance to NFRS
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December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).

Issuing separate circulars to reinsurance and non-life insurance companies on Monday (December 7), the Insurance Board instructed them to follow NFRS while unveiling their financial report.

Now, those insurance companies will have to make public their quarterly and annual financial reports based on NFRS. The board has said this provision will have to be implemented from the start of the current fiscal year.

 

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