Kathmandu. The insurance companies that are currently in operation are increasing the manpower along with the number of branches.
There are 14 life insurers, 14 non-life insurers and seven micro insurers licensed by the Nepal Insurance Authority. The total manpower of these insurers has increased by 4.32 percent till mid-April of the current fiscal year. Last year, 11,658 people were directly employed, which increased to 12,162 during the review period. That is, 504 people have got employment in insurance companies for 10 months.
A total of 6,087 people have got direct employment in life insurers and 6,075 in non-life insurers till Mid-April of the current fiscal year. Till April last year, 5,838 people had got direct employment in life insurance and 5,820 in non-life insurance. In this way, the manpower of life insurers has increased by 4.27 percent while that of non-life insurers has increased by 4.38 percent.
The number of insurers’ offices, which have shrunk during the merger and merger of insurance companies, is increasing again. Non-life insurers have been found to be more active than life in expanding the branch network.
According to nea, the number of branches of insurers has increased by 1.52 percent in the 10 months of the current fiscal year till April. 16 branches of life insurers and 29 branches of non-life insurers have been added. The number of branches of life insurers has increased by 0.87 percent while the number of branches of non-life insurers has increased by 2.58 percent.
According to the data published by the NRA, there are 1,847 branches of life insurers and 1,155 branch offices of non-life insurers as of Mid-April. As of April last year, there were 1,831 branches of life insurers and 1,122 branches of non-life insurers.
