Kathmandu. Current fiscal year 2082. In the first quarter of 2018, life insurance companies brought in a business of about Rs 49.25 billion.
According to the Nepal Insurance Authority, 14 life insurance companies have collected a total of Rs 49.22 billion in insurance premium. Last year, 2081. As of September 2018, the companies had brought in Rs 41.08 billion. The company’s turnover increased by 19.84 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 14 companies has increased.
Nepal Life Insurance has earned Rs 13.45 billion in insurance premiums till mid-September of the current FY. The company had collected Rs 11.99 billion in insurance premiums in the same period last year. The company’s turnover increased by 12.20 percent in the review period compared to the previous year.
Similarly, National Life is the second largest businessman in the world. The company has collected a total premium of Rs 5.68 billion till mid-October. The company had earned Rs 4.90 billion in insurance premiums in the same period last year. The company’s business increased by 15.90 percent compared to the previous year.
Life Insurance Corporation (LIC Nepal) is in the third position in terms of attracting the most business. The company has earned Rs 4.98 billion in insurance premiums in the review period of the current fiscal year, up from Rs 4.57 billion in the previous year. The company’s turnover during the review period increased by 8.96 percent compared to the previous year.
Also, Gurans Life Insurance has collected Rs 2.19 billion in insurance premiums, Citizen Life Insurance Rs 2.19 billion, Citizen Life Insurance Rs 2.19 billion, Citizen Life Insurance Rs 2.19 billion, Prabhu Life Insurance Rs 1.19 billion, Prabhu Life Insurance Rs 1.19 billion, Prabhu Life Insurance Rs 1.4 billion, Rs 1.19 billion, and Sun Nepal Life Insurance Rs 1.19 billion. Likewise, Rastriya Life Insurance Company posted a share of 222.49 percent, Himalayan Life Insurance by 2.9 percent, Surya Jyoti Life Insurance by 15.27 percent, Asian Life Insurance by 11.43 percent and Citizen Life Insurance by 24.68 percent.
Likewise, Sun Nepal Life Insurance has collected Rs 1.11 billion in insurance premiums, Prabhu Life Insurance Rs 1.4 billion, Prabhu Life Insurance Rs 1.81 billion, Prabhu Life Insurance Rs 1.81 billion, and Sun Nepal Life Insurance Rs 1.11 billion. The business of all these companies has increased compared to the previous year.
