UIB Group establishes presence in Nepal

United Insurance Brokers (UIB Group), the British insurance and reinsurance broker, has received approval from the relevant authorities to open an office in Kathmandu, Nepal.

Attached to UIB Asia, the Group's regional headquarters based in Singapore, the new structure will be dedicated to providing reinsurance solutions.

This initiative is part of the Group's expansion strategy in Asia, particularly in diversified, fast-growing markets.

According to GlobalData, the Nepalese insurance market is projected to grow at a CAGR of 13% between 2021 and 2026.