Banking News – Women’s participation in leadership roles across Nepal’s financial sector has been steadily increasing. Among the most notable names in this space is Pujan Dhungel, who currently serves as a Director at Nepal’s Insurance Authority—making history as the first woman to hold this position.

Born into a middle-class family in Kathmandu, Dhungel was raised in a joint family. Her father was an employee at NIDC (Nepal Industrial Development Corporation), while her mother was a teacher.

Early Aspirations: A Dream to Become a Doctor

Dhungel completed her schooling up to grade 10 at Gyanodaya Bal Batika in Sanepa, Lalitpur. She was a bright student and, growing up in an educated family, initially aspired to become a doctor. After completing her higher secondary education (+2), she worked at the Nepal Bird Conservation Association.

She pursued a bachelor’s degree in science at Tri-Chandra College, intending to follow a medical career. However, over time, her plans changed, and she shifted to management studies, completing her Master’s in Business Studies from Shanker Dev Campus.

Despite her qualifications, finding a job was challenging. “I applied for positions in the Public Service Commission and Nepal Rastra Bank, but I didn’t get selected,” she shared in an interview with Banking News.

A Career Breakthrough in 2005

Dhungel eventually entered the banking sector in 2005 (2062 BS) when she applied to Everest Bank and got selected. She considers this a turning point in her career.

During her time at Everest Bank, she found the professional environment enjoyable and decided to pursue opportunities at higher financial institutions. She later took an exam for the Insurance Board of Nepal and was selected as an officer-level employee.

“I loved working at the bank, but since insurance is also a part of the financial sector, I decided to start as an officer at the regulatory body,” she explained. Reflecting on her career, she acknowledges that her time in banking was a significant phase of her journey.

Becoming the First Female Director at the Insurance Authority

“I never imagined I would reach this position,” Dhungel recalls. “When I joined the Insurance Board, I wasn’t focused on titles—I just wanted to work.”

She started as an Officer in 2006 (2063 BS) and was later promoted to Assistant Director, Deputy Director, and eventually Director—becoming the first woman to hold this role at Nepal’s Insurance Authority.

Dhungel believes that having female leaders in regulatory positions is a source of pride for the insurance sector and an inspiration for all women. She recalls that when she first joined, female participation in the industry was minimal. “Now, seeing more women interested in the sector is very encouraging,” she said.

“Never Giving Up is the Key to Success”

Today, Dhungel actively participates in various insurance-related discussions, national and international conferences, and encourages women to step beyond traditional roles.

“To move forward in life, one must face challenges,” she said. “For women, managing both household and professional responsibilities is even more demanding. But we should never underestimate ourselves.”

She emphasizes financial independence for women and encourages them to start something on their own, even if family responsibilities prevent them from working outside the home.

A Deep Connection with the Insurance Sector

After spending a significant part of her career in the insurance industry, Dhungel considers herself deeply attached to it. She has gained expertise in even the smallest aspects of the insurance market.

“I have been in this field for a long time, and my connection with the insurance industry is unique,” she shared. “There’s still room for improvement, but the situation is far from discouraging.”

She is optimistic about the sector’s growth and takes pride in seeing more women stepping into leadership roles. Compared to the past, she believes the insurance market is now more structured and expanding steadily.

(This article is part of Banking News’ weeklong special series for International Women’s Day (March 8 / Falgun 24), highlighting women in leadership roles in the banking and insurance sectors.)