Kathmandu. Insurance companies doing life insurance business have collected Rs 2.43 billion in insurance premiums through micro insurance till Mid-April.
According to the data published by the Nepal Insurance Authority, these companies have sold 4,969,843 micro-insurance policies.
During this period, National Life has collected Rs 720.7 million in micro insurance premiums. Nepal Life insurance has collected Rs 69.8 million in insurance premium. LIC Nepal has collected Rs 355,000 as insurance premium.
Met Life has collected Rs 92.6 million in insurance premium, while Asian Life has collected Rs 4.41 million.
Sun Nepal Life insurance has collected Rs 17.1 million and Reliable Nepal Life Insurance Rs 943.4 million. Citizen Life has collected Rs 376.3 million in insurance premium. Suryajyoti Life has collected Rs 255.8 million in insurance premium.
Sanima Reliance Life has collected Rs 232.2 million and Himalayan Life Insurance Rs 12,000. Prabhu Mahalakshmi Life has collected Rs 69.1 million in insurance premium.
Small life insurer turnover:
Among the small life insurers, Guardian Micro Life collected Rs 241 million while Crest Micro Life collected Rs 229.7 million. Liberty Micro Life has collected Rs 114 million in insurance premiums.
Not implemented Authority’s instructions:
Nepal Insurance Authority (NEA) has directed every insurer to sell at least 5 percent of the total insurance transaction. Current fiscal year 2081. During the first 10 months of 1982, the share of micro insurance in the insurance premium collected by the life insurer is only 2 percent.
