Kathmandu. Current fiscal year 2082. Life insurance companies have brought in business of about Rs 35.25 billion till the second month of ’83.
According to the Nepal Insurance Authority, 14 life insurance companies have collected a total premium of Rs 35.24 billion. Last year, 2081. By August 2018, the companies had brought in Rs 30.08 billion. The company’s turnover increased by 17.15 percent in the review period compared to the previous year.
During the review period, Nepal Life Insurance Company (NLIC) was the top gainer in terms of business growth while National Life Insurance Company was ahead in terms of business growth. Compared to the previous year, the business of 13 companies has increased while one has decreased.
Nepal Life Insurance has earned Rs 9.68 billion in insurance premiums in the current FY. In the same period last year, the company earned Rs 9.03 billion in total insurance premiums. The company’s business increased by 7.15 percent in the review period compared to the previous year.
Similarly, National Life Insurance Company is the second largest businessholder. The company has collected Rs 4.08 billion in insurance premiums till mid-August. The company had posted a total insurance premium of Rs 1,064 crore in the same period last year. The company’s business has increased by 283.22 percent compared to the previous year. This growth is the highest among life insurers.
National Life Insurance Company is in the third position in terms of business. In the review period of the previous year, the company has collected a total insurance premium of Rs 3.98 billion. The company’s turnover increased by 11.10 percent in the review period compared to the previous year.
Also, Gurans Life Insurance has collected Rs 2.19 billion in insurance premiums, Citizen Life Insurance Rs 1.19 billion, Citizen Life Insurance Rs 1.19 billion, and Nepal Life Insurance has collected Rs 1.11 billion in insurance premiums. The business of all these companies has increased compared to the previous year.
Also, Gurans Life Insurance has collected Rs 1.19 billion in insurance premiums, Prabhu Life Insurance Rs 1.19 billion, Prabhu Life Insurance Rs 1.19 billion, Prabhu Life Insurance Rs 1.19 billion, and Sun Nepal Life Insurance Rs 1.11 billion. The business of Sun Nepal Life Insurance fell by 22.17 percent while other companies increased.
