The government has appointed Sharad Ojha as the Chairman of the Nepal Insurance Authority (NIA). The decision was made during a Cabinet meeting on Monday, February 24.  

Ojha’s appointment follows the recommendation of a selection committee led by National Planning Commission Vice Chairman Prof. Dr. Shiva Acharya. He will serve a four-year term as the head of the country’s insurance regulatory body.  

Ojha was among the top contenders for the position, alongside former Secretary Ram Sharan Pudasaini and former Executive Director of the Health Insurance Board, Damodar Basaula.  

Originally from Kanchanpur district in Sudurpaschim Province, Ojha holds a master’s degree in management and a bachelor’s degree in law from Tribhuvan University and has an experience in journalism, too. He reportedly secured the appointment with strong backing from Nepali Congress President Sher Bahadur Deuba.  

A total of 12 candidates had applied for the position. On February 17, the selection committee shortlisted five candidates, including Ojha, Pudasaini, Basaula, the Insurance Authority’s Executive Director Kamal Prasad Regmi, and former Chairman Chiranjivi Chapagain. The shortlisted candidates underwent interviews on February 22.

On December 13, 2024, the government appointed Madan Dahal as the acting chairman of NIA. Dahal is a joint secretary at the Ministry of Finance.  He was appointed after the suspension of Surya Prasad Silwal, following a case filed against him by the Commission for the Investigation of Abuse of Authority (CIAA) at the special court. The constitutional anti-graft body accused Silwal of submitting a fraudulent date of birth.