Kathmandu. Current fiscal year 2082. In the 11 months of ’83 (July-May), life insurance companies have brought in a business of about Rs 270 billion.
As per the data released by the Nepal Insurance Authority (NEA) today, 14 life insurance companies have collected a total of Rs 173.50 billion in insurance premiums till mid-May. Last year, 2081. By May 1980, the companies had brought in Rs 154.05 billion. The company’s turnover increased by 12.62 percent in the review period compared to the previous year.
During the review period, Nepal Life Insurance was the top importer in terms of business while IME Life was ahead in terms of business growth. The business of all the companies has increased compared to the previous year.
Nepal Life Insurance has earned Rs 46.16 billion in insurance premiums till mid-June of the current FY. The company had earned Rs 41.02 billion in insurance premiums in the same period last year. The company’s turnover increased by 12.53 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 Rs 22.21 billion in total insurance premiums till mid-May. The company had collected Rs 18.90 billion in insurance premiums in the same period last year. The company’s business increased by 17.49 percent compared to the previous year.
Life Insurance Corporation (LIC Nepal) is in the third position in terms of bringing in the largest business. The company has collected Rs 18.48 billion in total insurance premiums in the review period as compared to Rs 17.24 billion in the previous year. The company’s turnover increased by 7.20 percent in the review period compared to the previous year.
Similarly, Sun Nepal Life Insurance has collected Rs 18.62 billion in insurance premiums, Citizen Life Insurance Rs 18.59 billion, Citizen Life Insurance Rs 18.52 billion, Citizen Life Insurance Rs 18.52 billion, and Sun Nepal Life Insurance has collected Rs 18.11 billion. Likewise, Himalayan Life Insurance has increased by 3.76 percent, Rastriya Life Insurance by 17.93 percent, Surya Jyoti Life Insurance by 11.28 percent, Asian Life Insurance by 10.86 percent and Citizen Life Insurance by 20.04 percent.
Likewise, Sun Nepal Life Insurance has collected Rs 1.11 billion in insurance premiums, Prabhu Life Insurance Rs 1.96 billion, Prabhu Life Insurance Rs 1.96 billion, Prabhu Life Insurance Rs 1.96 billion, Reliance Life Insurance Rs 6.19 billion, and Sun Nepal Life Insurance Rs 1.11 billion. The business of all these companies has increased compared to the previous year.
