Kathmandu. Life insurers have brought in more than Rs 3.19 billion from the foreign employment insurance business in the 11 months of the current fiscal year.
Nepal Insurance Authority (NEA) has released the data for the 11 months of the current fiscal year. A total of Rs 3.19 billion has been collected by issuing 2,540,958 foreign employment insurance policies till May 11.
Sun Nepal Life alone accounted for 30.89 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 May 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 895.8 million by selling this policy. Asian Life accounts for 28.06 percent of the total business of this insurance business.
Similarly, Nepal Life is the third largest foreign employment insurance company. Nepal Life has a 7.10 percent stake in this insurance business. The company has earned a total insurance premium of Rs 226.5 million till June 30.
IME Life insurance has sold foreign employment policies worth Rs 225 million (7.05 per cent), National Life Insurance Rs 180 million (5.75 per cent), Sanima Reliance Life Insurance Rs 157.6 million (4.94 per cent), Citizen Life Insurance Rs 136.9 million (4.29 per cent), Prabhu Mahalakshmi Life Insurance Rs 126.1 million (3.95 per cent). SuryaJyoti Life insurance earned Rs 111 million (3.45 per cent) and Reliable Nepal Life earned Rs 106.5 million (3.34 per cent).
Similarly, Liberty Micro Life earned Rs 23.8 million (0.75 per cent), Himalayan Life Rs 8.98 million (0.28 per cent), Guardian Micro Life Rs 4.039 million (0.13 per cent) and Crest Micro Life Rs 1.124 million (0.04 per cent).
