Kathmandu. Life insurers have brought in more than Rs 2.88 billion from the foreign employment insurance business in the 10 months of the current fiscal year till April 2018.
This has been seen in the data released by the Nepal Insurance Authority for the last 10 months of the current fiscal year. As of Mid-April, 11 life insurance companies and three small-life insurance companies have issued 2,501,368 foreign employment insurance policies and earned a total insurance premium of Rs 2.88 billion.
Sun Nepal Life alone accounted for 34.21 percent of the total foreign employment insurance business. The company has earned a total insurance premium of Rs 986.2 million by issuing foreign employment insurance policies till Mid-April of the current fiscal year.
Asian Life is the second largest foreign employment insurance business. The company has earned a total insurance premium of Rs 764.4 million by selling this policy. Asian Life accounts for 26.52 percent of the total business of this insurance business.
Ime Life is the third largest foreign employment insurance company. IME Life’s share in this insurance business is 7.05 percent. The company has earned a total insurance premium of Rs 203.1 million till Mid-April.
Nepal Life Insurance has sold foreign employment policies worth Rs 201 million (6.94 per cent), National Life Insurance Rs 168.9 million (5.86 per cent), Sanima Reliance Life Insurance Rs 142.2 million (4.94 per cent), Suryajyoti Life Insurance Rs 102.9 million (3.57 per cent), Citizen Life Insurance Rs 101.4 million (3.52 per cent) and Reliable Nepal Life Insurance Rs 97.7 million (Rs 97.7 million). Percent) has earned total insurance fees.
Similarly, Liberty Micro Life earned Rs 13.5 million (0.47 per cent), Himalayan Life Rs 6.746 million (0.23 per cent), Guardian Micro Life Rs 3.814 million (0.13 per cent) and Crest Micro Life Rs 881,000 (0.03 per cent).
