Kathmandu. Current fiscal year 2082. In the first five months of the current fiscal year, life insurance companies have brought in a business of more than Rs 76.90 billion.
According to the Nepal Insurance Authority, 14 life insurance companies have collected a total insurance premium of Rs 76.90 billion till mid-November. Last year, 2081. As of December 2018, the companies had brought in Rs 65.74 billion. The company’s turnover increased by 16.98 percent in the review period compared to the previous year.
During the review period, Nepal Life Insurance Company (NLIC) was the top gainer in terms of business growth while National Life Insurance Company was ahead in terms of business growth. The business of all the companies has increased compared to the previous year.
Nepal Life Insurance has earned Rs 21.37 billion in insurance premiums till mid-December of the current fiscal year. The company had collected Rs 18.76 billion in insurance premiums in the same period last year. The company’s turnover increased by 13.91 percent in the review period compared to the previous year.
Similarly, National Life is the second largest businessman in the world. The company has collected Rs 9.27 billion in insurance premiums till mid-December. The company had earned Rs 7.98 billion in insurance premiums in the same period last year. The company’s business increased by 16.07 percent compared to the previous year.
Life Insurance Corporation (LIC Nepal) is in the third position in terms of bringing in the largest business. The company has collected Rs 7.66 billion in insurance premiums till mid-December of the previous year, while the company has collected Rs 8.18 billion in total premiums in the review period. The company’s turnover increased by 6.75 percent in the review period compared to the previous year.
Likewise, Gurans Life Insurance has collected Rs 1.11 billion in insurance premiums, Citizen Life Insurance Rs 2.19 billion, Citizen Life Insurance Rs 1.4 billion, Prabhu Life Insurance Rs 1.4 billion, Prabhu Life Insurance Rs 1.4 billion, Prabhu Life Insurance Rs 1.4 billion, and Prabhu Nepal Life Insurance Rs 1.11 billion. Likewise, Himalayan Life Insurance Company Ltd, Rastriya Life Insurance Company Ltd (146.94 percent), Surya Jyoti Life Insurance (12.07 percent), Asian Life Insurance (11.64 percent) and Citizen Life Insurance (21.73 percent) increased in the review period.
Likewise, Sun Nepal Life Insurance has collected Rs 2.19 billion in insurance premiums, Prabhu Life Insurance Rs 2.19 billion, Prabhu Life Insurance Rs 2.19 billion, Prabhu Life Insurance Rs 2.19 billion, Prabhu Life Insurance Rs 1.11 billion, and Sun Nepal Life Insurance Rs 1.11 billion. The business of all these companies has increased compared to the previous year.
