Crest Micro Insurance Records Impressive Growth in First Quarter

Kathmandu – Crest Micro Insurance Company, which has made remarkable strides since its inception, has reported promising results for the first quarter of the current fiscal year.

Crest Micro Life Insurance Limited earned a net profit of Rs. 1.15 million, marking a remarkable 120% increase compared to Rs. 0.524 million during the same period last year. This growth reflects the company’s strong performance and operational efficiency.

The company’s life insurance fund, which was just Rs. 63,000 last year, has seen a dramatic increase, reaching Rs. 47.1 million by the end of the review period. Additionally, Crest Micro Insurance has made claim payments totaling more than Rs. 8.8 million, further demonstrating its growing footprint in the insurance sector.

Total insurance premium income has also surged, increasing to Rs. 46.7 million, up from Rs. 1.38 million last year, showcasing the company’s expanding customer base and market penetration. With a paid-up capital of Rs. 52.5 million, Crest Micro Insurance is positioning itself as a formidable player in the micro-insurance market.

The company’s financial stability is further supported by a balance of Rs. 23.8 million in its life insurance fund.