Kathmandu. The insurance companies currently in operation are increasing the manpower with the expansion of branches.
There are 14 life insurers, 14 non-life insurers and seven micro insurers licensed by the Nepal Insurance Authority. The total manpower of these insurers has increased by 4.80 percent till mid-May of the current fiscal year. Last year, 11,674 people were directly employed, which increased to 12,234 during the review period. That is, 560 more people have got employment in insurance companies for 10 months.
A total of 6,111 people have got direct employment in life insurance and 6,123 in non-life insurance till May of the current fiscal year. Till May last year, 5,825 people had got direct employment in life insurance and 5,849 in non-life insurance. In this way, the manpower of life insurers has increased by 4.91 percent while that of non-life insurers has increased by 4.68 percent.
The number of insurers’ offices, which have shrunk during the merger and merger of insurance companies, is increasing again. Both life and non-life insurers have been active in expanding the branch network.
According to nea, the number of branches of insurers has increased by 1.18 percent in the 11 months of the current fiscal year. 18 branches of life insurers and 17 branches of non-life insurers have been added. The number of branches of life insurers has increased by 0.98 percent while the number of branches of non-life insurers has increased by 1.49 percent.
According to the data published by the NRA, there are 1,850 branches of life insurers and 1,157 branches of non-life insurers as of May. As of May last year, there were 1,832 branches of life insurers and 1,140 branches of non-life insurers.
