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Jyoti Life Insurance Company Ltd. has reinsurance arrangements with Multinational Reinsurance Company: “Hannover Re” and Local Reinsurance Company: “Nepal Re”.
Hannover Re, with a gross premium of around €21.7 billion is the third-largest reinsurance company in the world. Its headquarters is in Hannover, Germany which was founded in 1966. Through its 25 offices located in different parts of the world, the company is providing re-insurance coverage to all types of life, health, annuity, and personal accident business written by life insurance companies. According to Standard & Poor, the company is rated as AA− (Very Strong) and According to A.M. Best, it is rated as A+ (Superior). Jyoti Life has reinsurance partnership with the Malaysian Branch of Hannover Re since July 2017.
Website address: https://www.hannover-re.com/
Nepal Re-Insurance Company Limited (Nepal Re.), is a Local Re-Insurance company and was incorporated on November 2014, established in the Public-private partnership (PPP) Model with equity participation of the Government of Nepal, Insurance companies (both life and Non-life) as well as the public limited companies operating in Nepal. Altogether, there are thirty-two stakeholders of Nepal Re viz. Government of Nepal, Seventeen non-life insurance companies and Eight Life insurance companies operating in Nepal, and six Public companies. Nepal Re is the first reinsurance company in Nepal with a paid-up capital of 5 billion Nepalese Rupees (approx. USD 50 million). Jyoti Life has re-insurance partnership with Nepal Re for 20% direct Re-Insurance cession since July 2018 as per the regulatory requirement.
Website address: https://nepalre.com.np/en/
