NIPPONKOA vouches technical assistance

The Royal Insurance Corporation of Bhutan (RICBL) signed a two-year Memorandum of Understanding with NIPPONKOA Insurance Company, Japan yesterday to develop non-life insurance industry in Bhutan and facilitate economic development.
NIPPONKOA will provide technical assistance to RICBL and organize workshops in relation to underwriting, reinsurance, claims, corporate governance and strategy and planning.
The Chief Executive Officer (CEO) of RICBL Namgyal Lhendup said, “With the partnership of the two companies they are hopeful that they would be able to learn much from the Japanese expertise about Insurance Company”.
President and CEO of NIPPONKOA Masaya Futamiya recognized conservation of global environment and sustainable development as pivotal, their insurance business had implemented various ideas to reduce carbon emissions.
Finance Minister Wangdi Norbu said that such signing of MOU would be beneficial to provide insurance services to people more economically and efficiently.