Kathmandu. Lumbini has emerged as the frontrunner outside Bagmati Province in the sale of single premium (fixed deposit) insurance policies, which are issued in a lump sum for the entire insurance period.
According to the Nepal Insurance Authority, a total of 19,039 single premium insurance policies were active in Lumbini Province as of mid-Falgun of the current fiscal year 2081.82. During this period, the life insurance company has collected Rs 861.434 crore in insurance premiums from the sale of such policies.
Lumbini Province is number 1 in terms of the number of active single premium insurance policies, while Bagmati Province is ahead in terms of insurance premium collection. According to the Nepal Insurance Authority, life insurers have collected Rs 1.28 billion 25 million as single insurance premiums from 12,338 active insurance policies in Bagmati Province by mid-Falgun.
By mid-Falgun of the last fiscal year, life insurers had collected Rs 1.28 billion 96 million as single insurance premiums from 66,140 active insurance policies. By mid-Falgun of the current fiscal year, companies have collected Rs 4.24 billion 41 million as single insurance premiums from 82,727 active insurance policies.
In the last fiscal year 2080.81, Lumbini Province had collected Rs 856.88 billion as single insurance premiums from 16,935 active insurance policies. In the last fiscal year, Bagmati Province was in second place in single insurance premium income. Life insurance companies collected a total of Rs 816.379 crore single insurance premium from Bagmati Province.
Life insurance companies earned a total of Rs 3.691 billion single insurance premium in the last fiscal year 2080.81.
