Kathmandu: The premium earning of general insurance companies has crossed Rupees 24 billion during the first ten months of the current fiscal year. Among twenty insurers, nineteen general insurance companies have earned Rupees 24.62 billion till the Baisakh end of current F.Y. The premium earning of Government-owned Rastriya Beema Company is not included in the compiled data.
As per the data provided by Beema Samiti, the regulatory authority of insurers, Shikhar Insurance Company tops the premium earning. It has collected Rupees 3.19 billion during the above-mentioned period.
Similarly, Neco Insurance Company stands at second position with the earning of Rupees 2.09 billion premium. Sagarmatha Insurance remains in the top third position accumulating Rupees 2.08 billion.
As per the regulator, Siddhartha Insurance has collected Rupees 1.88 billion, NLG Insurance has collected Rupees 1.81 billion and Premium Insurance has earned Rupees 1.52 billion.
While IME General Insurance has earned Rupees 1.22 billion, Prabhu Insurance Rupees 1.20 billion, Prudential Insurance Rupees 1.13 billion. Similarly, Lumbini General Insurance has earned Rupees 1.10 billion, Ajod Insurance Rupees 1.06 billion, and Nepal Insurance Rupees 1.04 billion.
Though Ajod Insurance is a new player in the market, it has been able to leave the five well-known insurance companies behind in terms of premium earning. Himalayan General Insurance, Oriental Insurance, Everest Insurance, United Insurance, and National Insurance lag behind Ajod Insurance. Along with these five insurance General Insurance and Sanima General Insurance couldn’t reach 1 billion premium earning during the first ten months of the current fiscal year.