Enterprise Risk Management and Institutional Performance of Life Insurance Companies in Nepal

Authors

  • Nishwarth Mahat Camad College
  • Surendra Pandey Ministry of Finance, Government of Nepal
  • Bharat Singh Thapa Central Department of Management, Tribhuvan University

DOI:

https://doi.org/10.3126/batuk.v9i1.51896

Keywords:

insurance, risk management, enterprise risk management, institutional performance

Abstract

The paper aims at determining the performance of insurance companies in Nepal from the perspectives of enterprise risk management. Risk identification, risk evaluation, risk mitigation, risk implementation and management are predictors of performance of insurance firms. A full fledge structured questionnaire survey was conducted among conveniently selected 100 respondents representing key employees from different branches of insurance firms within the Kathmandu valley. Analysis was made using correlation and step-wise regression. The major finding of the study implies that risk identification, risk assessments and risk mitigation affect positively to insurance firms’ performance whereas, risk management and implementation have negative impact on company’s performance. However, only effect of risk mitigation was found statistically significant. Thus, the insurance companies are suggested to focus on risk mitigation to enhance their performance. Finally, the study also recommends that the firms need to pursue enterprise risk management in line with international best practices to ensure productivity and competitiveness at par with global benchmark.

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Author Biographies

Nishwarth Mahat, Camad College

Lecturer

Surendra Pandey, Ministry of Finance, Government of Nepal

Under Secretary

Bharat Singh Thapa, Central Department of Management, Tribhuvan University

Lecturer

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Published

2023-01-30

How to Cite

Mahat, N., Pandey, S., & Thapa, B. S. (2023). Enterprise Risk Management and Institutional Performance of Life Insurance Companies in Nepal. The Batuk, 9(1), 10–23. https://doi.org/10.3126/batuk.v9i1.51896

Issue

Section

Part I: Management Science