Micro Life Insurers Collect Rs 19.70 Crore in Premiums by Mid-September; Guardian Micro Life Leads
Three operating micro life insurance companies in Nepal collected a total premium of Rs 19.70 crore by the end of Bhadra in the current fiscal year. According to data released by the Nepal Insurance Authority, the insurers issued a total of 289,714 insurance policies during this period, with Guardian Micro Life Insurance taking the top position.
According to updated data released by the Nepal Insurance Authority, three operating micro life insurance companies collected a total gross insurance premium of Rs 19.70 crore by the end of Bhadra in the current fiscal year. During this review period, these companies successfully issued a total of 289,714 insurance policies.
In terms of business volume, Guardian Micro Life Insurance emerged as the market leader. The company collected Rs 7.76 crore in total premiums by issuing 245,898 insurance policies.
The business performance of the other two micro life insurers is as follows:
- Liberty Micro Life Insurance: Collected Rs 6.78 crore in total premiums with 21,248 policies issued.
- Crest Micro Life Insurance: Collected Rs 5.15 crore in total premiums with 22,568 policies issued.
Established with the aim of expanding insurance access to the general public, micro life insurance companies are gradually demonstrating increased market presence and business expansion.