Micro-Insurance Companies are doing Business worth Millions with Single Policy

Kathmandu :  Four micro-insurance companies approved by the Insurance Authority have released their financial statements for one month. In one month, the micro-insurance companies established with the aim of reaching the low-income and rural areas people have done insurance of worth Rs.71.1 million.

Currently, these companies have only one policy even though they have managed to get more than 70 million insurance through one insurance plan.

The Insurance Authority had distributed licenses to seven Micro-insurance companies, three Micro-life insurance and four Micro-non-life insurance companies on November 27,2022 A.D.            Four of them have already started business.

Micro insurance companies provide insurance to the marginalized and low-income communities in remote, rural and urban areas to reduce future risks. According to the authority, two micro life insurance companies have issued 219 insurance policies worth 633 million rupees until Month of June.