Micro Non-Life Insurance Companies Earn Over Rs 268 Million in First Quarter

Kathmandu: Micro non-life insurance companies in Nepal have collected a total insurance premium of more than Rs 268.1 million in the first quarter of the current fiscal year 2082/83 (Shrawan to Ashoj), according to data released by the Nepal Insurance Authority.

The figures indicate a 44.44 percent increase in business compared to the same period last fiscal year, when total premiums amounted to Rs 185.6 million.

Nepal Micro Insurance led the sector in the first quarter, earning Rs 70.3 million, an increase of 27.8 percent from the same period last year. Protective Micro Insurance Company collected Rs 69.9 million, marking a 51.71 percent growth, while Trust Micro Insurance Company earned Rs 69.5 million, up 63.12 percent from the previous year. Star Micro Insurance also reported growth, with total premiums reaching Rs 58.2 million, a 39.29 percent increase.

The growth in premiums was supported by the issuance of 91,631 insurance policies during the period.