In a bid to strengthen their operations, five microinsurance companies are gearing up to launch Initial Public Offerings (IPOs).
These companies have recently gained approval for IPO issuance during their respective annual general meetings. Crest Micro Life Insurance has secured approval for IPO issuance during its annual general meeting held on Chaitra 5. Similarly, Star Micro Insurance and Protective Micro Insurance have received approval to launch IPOs during their annual general meetings convened on Falgun 27.
Additionally, Guardian Micro Life Insurance and Nepal Micro Insurance have obtained approval for IPO issuance during their annual general meetings held on Falgun 16 and Falgun 21, respectively.
Trust Micro Insurance has not called for an annual general meeting for the past fiscal year. The Insurance Regulatory Authority of Nepal had previously distributed licenses to five companies in the microinsurance sector. Among these, three companies focus on micro-life insurance, and the remaining two on micro-non-life insurance.
Guardian Micro Life Insurance, Crest Micro Life Insurance, and Liberty Micro Life Insurance were among those granted licenses for micro-life insurance businesses.
Similarly, Trust Micro Insurance Company and Nepal Micro Insurance Company were granted licenses for micro-non-life insurance operations.
This strategic move is expected to enhance the accessibility of insurance services, particularly in rural areas, thereby fostering financial inclusion and stability in Nepal’s insurance sector.