KATHMANDU, NOVEMBER 27
Nepal Insurance Authority (NIA) has issued licences for micro insurance business to seven companies.
Issuing a notice today, NIA has announced one company each from the seven provinces have been granted licences out of the 31 applications it had received.
The authority has approved the applications of three companies for micro-life insurance and four companies for micro nonlife insurance.
For micro life insurance business, Guardian Micro Life Insurance, Crest Micro Life Insurance and Liberty Micro Life Insurance have been granted licences.
Likewise, Trust Micro Insurance Company, Nepal Micro Insurance Company, Star Micro Insurance Company and Protective Micro Insurance have received licence for micro non-life insurance business.
For the establishment of micro insurance business, the authority had published a 35-day notice on August 26 inviting interested parties to submit proposals and register with the authority.
A version of this article appears in the print on November 28, 2022, of The Himalayan Times.
