Kathmandu. New business of life insurance companies has increased by 26.75 percent. According to the statistics of the Nepal Insurance Authority, new business of life insurance has increased compared to the same period of the previous year. In the 8 months of the current fiscal year, i.e. up to Falgun, 14 life insurance companies have collected first insurance premiums of 21.1254 billion rupees. In the same period of the previous fiscal year, the companies had collected first insurance premiums of 16.6664 billion rupees. The first insurance premiums of the companies are 26 percent more than in the same period of the previous year.
Up to Falgun in the current fiscal year, Nepal Life has collected the highest first insurance premiums. The company has collected first insurance premiums of 5.24 billion rupees. Which is a new business increase of 37.79 percent compared to the previous year. National Life is in second place. The company has collected first insurance premiums of 3.30 billion rupees during this period. Which is a new business increase of 23 percent compared to the previous year. LIC Nepal is in third place. The company has collected Rs 1.71 billion in first premiums during this period. This is a new business increase of 26.92 percent compared to the previous year.
Similarly, Himalayan Life has collected Rs 1.56 billion in first premiums. This is a new business increase of 12.92 percent compared to the previous year. Suryajyoti Life has collected Rs 1.55 billion in first premiums. This is a new business increase of 30 percent compared to the previous year. Citizen Life has collected Rs 1.18 billion in first premiums. Which is a 16.98 percent increase in new business compared to the previous year.
On the other hand, Asian Life has collected Rs 1.08 billion in first premiums. Which is a 26 percent increase in new business compared to the previous year. Sanima Reliance Life has collected Rs 1.01 billion in first premiums. Which is a 19 percent increase in new business compared to the previous year.
Reliable Nepal Life has collected Rs 852.9 million in first premiums. Which is a 15 percent increase in new business compared to the previous year. Met Life has collected Rs 843.3 million in first premiums. Which is a 2.44 percent increase in new business compared to the previous year.
Similarly, Prabhu Mahalaxmi Life has collected Rs 798.5 million in first premiums. Which is a 50 percent increase in new business compared to the previous year. IME Life Insurance has collected Rs 779.5 million in first premiums. Which is a 20 percent increase in new business compared to the previous year. Sun Nepal Life has collected Rs 621.8 million in first premiums. Which is a 64 percent increase in new business compared to the previous year. National Life Insurance Company has collected Rs 544.7 million in first premiums. Which is a 39 percent increase in new business compared to the previous year.
