Kathmandu. Rating agency CARE Rating Nepal has reaffirmed the rating of the issuer of non-life micro insurance company Nepal Micro Insurance.
Care Ratings has reaffirmed Nepal Micro’s rating and set it as ‘Double B minus’. A moderate level of risk is involved in the ability of such a rated company to repay its default financial liability.
The insurance company has already issued 30 percent of the issued capital. The current capital of the company is Rs 750 million.
The company 2080. The micro insurance business started on July 15, 2018. Last fiscal year 2081. The company has earned a profit of Rs 1.65 million. The total turnover of the company is Rs 193.6 million. The previous year 2080. This is 275 percent more than 81.
The insurer, which has the permission of the insurer to provide access to micro insurance to the marginalized sections, has opened 10 branches and two sub-branches, including the head office. Apart from this, 17 agent agents have been appointed till mid-July last year.
