Kathmandu. The Office of the Auditor General has suggested that the Nepal Insurance Authority should pay attention to identifying and resolving the reasons for the increase in the surrender rate of life insurance.
The Auditor General of Nepal fiscal year 2080. This suggestion has been made to the AUTHORITY after the audit of 81. The Auditor General has expressed concern over the increase in both the number and amount of insurance policies under the surrender of the policy.
According to the Auditor General, the previous fiscal year 2079. A total of 96,938 insurance policies issued by 14 life insurance companies were dedicated in the last fiscal year 2080. It has reached 113,976 out of 81. This is an increase of 17.58 percent compared to the previous fiscal year.
Similarly, the surrender price has also increased by 8.68 percent to Rs 14.50 billion from Rs 13.34 billion in the review period.
Similarly, the previous fiscal year 2079. A total of 1,205,074 insurance policies were issued in the fiscal year 2080. It decreased by 3.88 per cent to 1,158,299. Although the number of insurance policies has decreased, its amount has increased.
According to the report of the Auditor General, the size of the insured amount has increased by 0.26 percent from Rs 33.95 billion to Rs 34.37 billion.
