Citizen Life appoints KPMG India Consultant for NFRS 17

लगानी न्यूज

१४ जेष्ठ २०८३, बिहीबार १०:५९May 28, 2026

. Kathmandu. KATHMANDU: Citizen Life Insurance Company Limited has taken strategic initiatives to ensure the implementation of NFRS 17 (Insurance Contracts) issued by the Auditor Board of Nepal (CERT) through the Institute of Chartered Accountants of Nepal (Chartered Accountants) in an effective, systematic and international standard.

In this context, after necessary approval from Insurance Authority of Nepal, the company has appointed KPMG Assurance & Consulting Services LLP, a reputed global consultancy firm, as the NFRS 17 Implementation Partner.TAG_OPEN_div_18

KPMG is one of the world’s leading “Big Four” professional services providers, providing high-level expertise in insurance, consulting, tax and risk advisory services.TAG_OPEN_div_16 With its strong international network, experienced workforce, high ethical standards and work ethic based on the latest international practices, KPMG has been recognized as a trusted and established partner for banks, insurance companies and large institutions around the world.

KPMG’s international experience and technical expertise are considered to be very important, especially in the implementation of complex financial reporting standards such as IFRS 17 and NFRS 17.TAG_OPEN_div_14 Its strong presence in the South Asia region, especially in India, and its deep understanding of the local market have established high trust and acceptance of its consultancy services even in developing markets such as Nepal.

With this appointment, Citizen Life Insurance will have a significant opportunity to gain international-level expertise in NFRS 17 implementation as well as enhance its internal capacity through knowledge transfer.TAG_OPEN_div_12

The contract will be for a period of three and TAG_OPEN_div_10 a half years (3.5) years which includes initial implementation phase followed by three years of post-implementation support services. This will ensure the long-term sustainability of the system, continuous technical support, and sustainable development of institutional efficiency.