Government Appoints Radha Pokharel as Female Director of Insurance Authority

The government has appointed Radha Pokharel as the female director of the Insurance Authority, filling a vacant position. As per the decision at the ministerial level by the Finance Minister, Pokharel has been appointed for a four-year term, effective from today (March 14).

Pokharel was previously appointed as a director of Vishal Bazaar Company two years ago. She has been actively involved in the stock market as an investor for a long time and currently serves as the Chairperson of the Nepal Capital Market Investors’ Association.

The Insurance Act of 2079 BS (2022 AD) mandates the inclusion of at least one female director in the Insurance Authority’s board. This provision had not been fully implemented until now. With Finance Minister Bishnu Prasad Paudel appointing Pokharel, the Act has now been fully enforced.

According to the Act, the Insurance Authority’s board must consist of a chairperson and four directors. The board includes representatives from the Ministry of Finance and the Ministry of Law as joint secretaries. Additionally, one director each from the life insurance and non-life insurance sectors must be appointed, making a total of two directors from these fields. The Act stipulates that among the five-member board, one female director is mandatory.

Pokharel’s appointment is seen as a significant step toward gender inclusion in the insurance sector and the effective implementation of the Act.