KATHMANDU: The government has appointed Sharad Ojha as the chairman of the Nepal Insurance Authority, the regulatory body overseeing the Nepal’s insurance sector.

The decision was made during a cabinet meeting on Monday evening. Ojha, 32, holds a master’s degree in management and a bachelor’s degree in law. His tenure as chairman will last for four years.

With a background in journalism and law, Ojha has experience in senior management roles in the corporate sector. He has also worked as an expert for the Confederation of Nepalese Industries (CNI) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

A recommendation committee led by National Planning Commission Vice Chairman Shivraj Adhikari shortlisted Ojha, along with Ramsharan Pudasaini and Damodar Basoula, for the position. The cabinet selected Ojha from the final three candidates after an initial 12 applicants was narrowed down to five.