11 November, Kathmandu. Nepal Insurance Authority has granted working permission to seven small insurance coverage corporations. The authority granted licenses to 3 life insurance coverage corporations and 4 non-life insurance coverage corporations on Sunday.
Guardian Micro Life Insurance, Crest Micro Life Insurance and Liberty Micro Life Insurance received license for micro life insurance coverage.
Similarly, Trust Micro Insurance, Nepal Micro Insurance, Star Micro Insurance and Protective Micro Insurance have gotten licenses for non-life insurance coverage, the board stated.
15 life and 16 non-life 31 small insurance coverage corporations had utilized to the authority. The paid-up capital of the small insurance coverage firm is fastened at Rs. 75 crores.