KATHMANDU: Chief Executive Officer of Nepal Insurance Company Ltd, Vijaya Bahadur Shah, has been elected as the new president of the Association of Insurers and Reinsurers in Developing Countries (AIRDC).

The annual general meeting of the AIRDC held in Kathmandu on Tuesday unanimously elected Shah as the new president of the association for a two-year term.

Similarly, the AGM also elected a nine-member executive board of trustees of the AIRDC. AIRDC is an international organisation composed of insurance companies, reinsurance companies and other insurance groups that bonded together to develop and expand international collaboration and cooperation in the fields of insurance and reinsurance among them.

It has a total of 124 members. The AGM has also decided to hold its next conference in Ghana in 2020.