UK-based UIB Group has announced the launch of a representative office in Kathmandu, Nepal, marking a strategic expansion of its operations in Asia.
Headquartered in London, UIB Group operates as an independent insurance and reinsurance broker. Its subsidiary, United Insurance Brokers Limited (UIBL), serves a global clientele with tailored solutions across various markets.
The development follows regulatory approvals from both the Monetary Authority of Singapore (MAS) and Nepalese authorities, allowing the group to enhance its offerings in the region.
The new Kathmandu office will operate under the direction of UIB Asia’s regional headquarters in Singapore.
This initiative reflects UIB Group’s focus on strengthening its presence in emerging Asian markets and delivering customised reinsurance solutions to meet local demands.
The company said that this move aims to deepen collaboration with Nepalese clients by bringing in localised expertise to better address their needs.
Tim Church, CEO of UIB International, welcomed Sushil Bajracharya to the Nepal team, highlighting the importance of understanding local needs and the local environment.
“We are very proud to have one of the best in Sushil Bajracharya, and we welcome him into the UIB Family. Together, we look forward to serving the Nepalese people,” he said.
UIB Group indicated that the new office would enhance client engagement and foster stronger partnerships within Nepal’s insurance sector.
The move is part of the company’s broader strategy to provide region-specific services and expand its footprint across Asia.
MAS approved UIB Group’s expansion after increasing its regulatory focus on reinsurance arrangements involving insurers operating in Singapore.
Insurers in the country have been directed to submit the terms and conditions of their reinsurance contracts for review, according to industry sources.
This announcement was made during a conference hosted by the Singapore Actuarial Society, which brought together over 300 participants.
MAS officials said that reinsurance transactions could face audits as part of a broader effort to ensure compliance and stability in the sector.
Reinsurance is a key mechanism that insurers use to manage risk, expand underwriting capacity, and stabilise financial outcomes. Industry experts suggest that such practices are generally low-risk when the reinsurers involved maintain robust financial health.
