Trust Micro Insurance appoints NIMB Ace Capital as underwriter for share issuance

KATHMANDU: Trust Micro Insurance has appointed NIMB Ace Capital as the underwriter and sales manager for the issuance of 2.25 million units of general shares, valued at Rs 225 million, to the general public. This represents 30% of its issued capital.

Trust Micro Insurance CEO Ujjwal Dhungana, on behalf of the issuing company, and General Manager Sachindra Dhungana, on behalf of the underwriter and sales manager, signed the agreement on Sunday.

Aimed at providing micro insurance services to low-income individuals from underprivileged areas and marginalised communities, Trust Micro Insurance obtained a non-life micro insurance licence on October 29, 2023. The company has been operating as a micro non-life insurer since March 14, 2024.