Kathmandu. The life insurance companies last fiscal year 2081. He has done business of more than Rs 200 billion in 82 years.
According to the data released by the Nepal Insurance Authority (NEA) today, 14 life insurance companies earned a total insurance premium of Rs 181.42 billion by selling 14.12 million insurance policies in the last fiscal year. The previous fiscal year 2080. The companies had earned a total insurance premium of Rs 156.33 billion in 2018-19. Compared to the previous year, the business of companies increased by 16.05 percent in the review period.
Compared to the previous year, the business of all 14 life insurers has increased till the review period. Nepal Life is the largest importer of business while Sun Nepal Life is ahead in terms of growth rate.
In the last fiscal year, Nepal Life earned a total insurance premium of Rs 48.03 billion. Which is the previous fiscal year 2080. This is an increase of 17.59 percent compared to 81. In the previous fiscal year, the company had earned Rs 40.85 billion in insurance premiums.
National Life is the second largest source of business. The company has earned a total insurance premium of Rs 22.42 billion. In the previous fiscal year, the company had earned Rs 19.20 billion in insurance premiums. Compared to the previous year, the company’s business increased by 16.77 percent in the review year.
Life Insurance Corporation (LIC Nepal) is in third place. In the review year, the total insurance premium collection increased by 10.04 percent to Rs 19.92 billion from Rs 18.10 billion in the previous year.
Similarly, Himalayan Life Insurance earned Rs 17.66 billion, Suryajyoti Life Insurance Rs 11.18 billion, Asian Life Insurance Rs 10.24 billion, National Life Insurance Company Rs 9.85 billion and Citizen Life Insurance Rs 7.51 billion in the review year. Business in all these companies has increased in the review year compared to the previous year.
In the last fiscal year, Sanima Reliance Life earned Rs 7.69 billion, MetLife Rs 6.25 billion, IME Life Rs 5.65 billion, Prabhu Mahalaxmi Life Rs 5.37 billion, Reliable Nepal Life Rs 5.28 billion and Sun Nepal Life Rs 5.45 billion. Compared to the previous year, the business of all these companies has increased in the review year.
In terms of growth rate, Reliable Nepal Life has achieved the highest business growth of 28.80 percent.
