Kathmandu. Non-life insurers in the current fiscal year 2082. In the first seven months of ’83, the company has been able to do business of more than Rs 27.5 billion.
According to the data released by the Nepal Insurance Authority (NEA), 14 non-life insurance companies have earned a total of Rs 27.53 billion in insurance premium by issuing 1,656,336 insurance policies. Previous fiscal year 2081. The company has earned Rs 24.27 billion in insurance premiums by issuing 1,621,679 policies till January 1980. The company’s turnover increased by 13.45 percent in the review period compared to the previous year.
Compared to the previous year, the business of 13 insurers has increased while the business of one insurer has decreased. Shikhar Insurance has brought the most business in terms of the review period, followed by Himalayan Airbend Insurance in terms of business growth.
Shikhar Insurance has earned Rs 3.32 billion in insurance premiums till mid-January of the current FY. The company had earned Rs 3.13 billion in total insurance premiums in the previous year. The company’s turnover increased by 6.02 percent in the review year compared to the previous year.
Sagarmatha Lumbini Insurance has become the second largest business buyer in the world. During the review period, the company earned Rs 2.98 billion in total insurance premiums. The company earned Rs 2.93 billion in insurance premiums in the same period last year. The company’s turnover increased by 1.77 percent in the review period compared to the previous year.
Similarly, Himalayan Everest Insurance is the third largest businessholder in the market. The company has earned Rs 2.83 billion in total insurance premiums till mid-January of the current fiscal year. The company had earned Rs 1.92 billion in total insurance premiums in the previous year. The company’s business increased by 47.74 percent in the review period compared to the previous year.
Similarly, Siddhartha Premier Insurance collected Rs 2.51 billion in insurance premiums, followed by IGI Prudential Insurance Rs 2.38 billion, NLG Insurance Rs 2.18 billion and Neco Insurance Rs 2.15 billion. Siddhartha Premier Insurance Ltd, IGI Prudential Insurance Ltd (17.45 per cent), NLG Insurance (34.95 per cent) and Neco Insurance (10.32 per cent) increased in the review period.
Similarly, United Ajod Insurance earned Rs 1.75 billion, Oriental Insurance Rs 1.68 billion and Sanima GIC Insurance Rs 1.60 billion. During the review period, United Ajod grew by 25.39 per cent, Oriental Insurance by 10.64 per cent and Sanima GIC by 15.60 per cent.
Similarly, Nepal Insurance earned Rs 1.44 billion, Prabhu Insurance Rs 1.07 billion, Rastriya Beema Rs 89.24 million and National Insurance Rs 79.96 million in the review period. In the review period, Nepal Insurance Company Ltd, Prabhu Insurance Ltd and National Insurance Company Ltd (15.31 per cent) increased by 5.12 per cent in the review period.
