Kathmandu. In the last fiscal year, non-life insurers managed to do business of about Rs 44 billion.
According to the data released by the Nepal Insurance Authority (NEA) for the last fiscal year, 14 non-life insurers have issued 2,864,945 insurance policies and earned a total insurance premium of Rs 43.95 billion. Last year 2080. The companies issued 2,849,934 insurance policies and earned a total insurance premium of Rs 41.17 billion. Compared to the previous year, the business of companies increased by 6.77 percent in the review period.
In the review year, the business of 12 insurers has increased while the business of two insurers has decreased. During this period, Shikhar Insurance has brought the most business, while Nepal Insurance is ahead in terms of business growth.
In the last fiscal year, Shikhar Insurance earned a total insurance premium of Rs 5.79 billion. In the previous fiscal year, the company had earned a total insurance premium of Rs 5.47 billion. Compared to the previous year, the company’s business increased by 5.92 percent in the review year.
Sagarmatha Lumbini Insurance is the second largest importer of business. The company earned a total insurance premium of Rs 5.20 billion in the last fiscal year. In the previous fiscal year, the company had earned Rs 4.78 billion in insurance premiums. Compared to the previous year, the company’s business increased by 4.47 percent in the review year.
Siddhartha Premier has become the third most traded company. In the review year, the company earned a total insurance premium of Rs 4.31 billion. In the previous fiscal year, the company had earned Rs 4.17 billion in insurance premiums. Compared to the previous year, the company’s business increased by 3.19 percent in the review year.
Similarly, Himalayan Everest Insurance earned Rs 4.10 billion, IGI Prudential Insurance Rs 3.86 billion, Neco Insurance Rs 3.28 billion and NLG Insurance Rs 3.06 billion in the review year. The business of all these insurers has increased in the review year compared to the previous year.
In the last fiscal year, United Ajod earned Rs 2.78 billion, Oriental Insurance Rs 2.70 billion, Sanima GIC Rs 2.70 billion, Nepal Insurance Rs 2.03 billion and Prabhu Insurance Rs 1.86 billion. The business of these insurers has increased during the review period of the previous year.
In the review year, National Insurance Company earned Rs 1.37 billion and National Insurance Earned Rs 1.06 billion. Compared to the previous year, the business of both insurers has decreased in the review year.
