Nepal Micro Insurance Company Reports Surge in Premium Income but Sharp Drop in Profit

Kathmandu — Nepal Micro Insurance Company has reported a notable rise in net premium earnings for the third quarter of the current fiscal year. The company earned Rs. 54 million in net premiums during the quarter, marking a remarkable increase of over 605.74 percent compared to Rs. 7.7 million recorded during the same period last year.

Despite this growth in premium income, the insurer’s net profit fell significantly by 80 percent, dropping from Rs. 2.4 million. Consequently, earnings per share (EPS) dropped by 52 paisa, landing at 9 paisa.

Meanwhile, total income surged from Rs. 50 million to over Rs. 115.9 million, while total expenses remained largely unchanged.

The company currently maintains a paid-up capital of Rs. 750 million. Its financial reserves include Rs. 2.7 million in special reserves, Rs. 2.6 million in a disaster fund.

Additionally, the size of Nepal Micro Insurance’s non-life insurance fund has expanded substantially from Rs. 80 million to over Rs. 182 million. The net worth per share now stands at Rs. 101.