Kathmandu. Non-life insurers in the current fiscal year 2082. In the second quarter of 2018, the company has been able to do business of Rs 23.67 billion.
As per the information released by the Insurance Authority (NEA), 14 non-life insurance companies have earned Rs 23.67 billion in insurance premiums by issuing 14,19,548 policies in the first six months of the current fiscal year. Previous fiscal year 2081. As of December 19, the companies had issued 1,389,319 policies and earned Rs 20.88 billion in total premium. The company’s turnover increased by 13.37 percent in the review period compared to the previous year.
Compared to the previous year, the business of 13 insurers has increased while that of one insurer has decreased. Shikhar Insurance has brought the most business in terms of the review period, followed by Himalayan Airbend Insurance in terms of business growth.
Shikhar Insurance has earned Rs 2.77 billion in insurance premiums till mid-January of the current FY. Last year, the company earned Rs 2.59 billion in total insurance premium. The company’s business increased by 7.19 percent in the review year compared to the previous year.
Sagarmatha Lumbini Insurance has become the second largest business buyer in the world. During the review period, the company earned Rs 2.61 billion in total premiums. The company had earned Rs 2.55 billion in insurance premiums in the same period last year. The company’s turnover increased by 2.34 percent in the review period compared to the previous year.
Similarly, Himalayan Everest Insurance is the third largest businessholder in the market. The company has earned Rs 2.49 billion in insurance premiums till mid-January of the current FY. The company had posted a net profit of Rs 1.71 billion in the previous fiscal year. The company’s turnover increased by 45.07 percent in the review period compared to the previous year.
Similarly, Siddhartha Premier Everest Insurance has collected Rs 2.29 billion in insurance premiums, IGI Prudential Insurance Rs 2.06 billion, NLG Insurance Rs 1.87 billion and Neco Insurance Rs 1.80 billion. Himalayan Siddhartha Premier Insurance Ltd, IGI Prudential Insurance Ltd, NLG Insurance Ltd (33.55 per cent), Neco Insurance (8.27 per cent) and Himalayan Siddhartha Premier Insurance Ltd (19.05 per cent) increased by 19.05 per cent in the review period.
In the current fiscal year, United Ajod Insurance has earned Rs 1.53 billion, Oriental Insurance Rs 1.50 billion and Sanima GIC Insurance Rs 1.42 billion. During the review period, United Ajod increased by 27.29 percent, Oriental Insurance by 11.57 percent and Sanima GIC by 19.71 percent.
Likewise, Nepal Insurance earned Rs 1.18 billion, Prabhu Insurance Rs 93.72 crore, National Insurance Rs 69.93 crore and National Insurance Rs 56.72 million. In the review period, Nepal Insurance Company Ltd, Prabhu Insurance Ltd (3.69 per cent) and National Insurance Ltd (12.44 per cent) increased by 20.34 per cent in the review period.
