15 August 2024, Kathmandu

Liberty Micro Life Insurance Limited has announced a net profit of Rs 76 lakh for the last financial year, marking a successful start for the fledgling insurance company.

Liberty Micro Life Insurance Reports

Despite being a new player in the market, Liberty Micro Life Insurance has shown promising results within its first year of operation.

The company’s life insurance fund currently stands at Rs 1 crore 58 lakh. With a paid-up capital of Rs 525 million, Liberty Micro Life Insurance earned Rs 3 crore in insurance premiums over the past year. The company’s total income from loans and investments reached Rs 4.75 crore.

In terms of claims, Liberty Micro Life Insurance paid out Rs 4 lakh 25 thousand. The company’s total expenditure for the year amounted to Rs 68.7 million. This financial performance highlights the company’s efficient management and its potential for future growth in the competitive insurance sector.

Liberty Micro Life Insurance’s initial success underscores its strong market entry and operational efficiency. The company’s solid profit performance and prudent financial management suggest a promising trajectory as it continues to establish itself in Nepal’s insurance industry.

Liberty Micro Life Insurance Reports