Kathmandu. Current fiscal year 2082. In the first two months of August, life insurance companies have lost Rs 2.5 billion.
According to the Insurance Reflection published by the Nepal Insurance Authority, the company has released Rs 2.50 billion from the surrender of 15,898 insurance policies till mid-August of the current fiscal year. Last year, 2081. As of August 2018, 19,741 insurance policies were surrendered by the companies, amounting to Rs 2.75 billion.
In the review period, the number of policies surrendered decreased by 19.47 percent and the amount decreased by 9.18 percent compared to the previous year.
Similarly, the companies are yet to collect Rs 36.43 billion from the insurance policy till mid-August of the current fiscal year. This amount is of 12,13,562 insurance policies.
As of mid-August last year, the companies are yet to collect Rs 34.67 billion from 11,80,616 outstanding insurance policies. The number of policies extended during the review period increased by 2.79 percent and the amount by 5.07 percent compared to the previous year.
