Despite pandemic, non life insurers achieve growth above 18 pc

Kathmandu: Non-life Insurance companies have earned a total premium of Rs. 26.52 billion during first eleven months of current fiscal year. The figure shows that non life insurance industry has been able to achieve a growth of 18.55 percent in comparison to the same period of last FY despite the Covid19 pandemic.Non life insurance companies had earned Rs. 22.37 billion during first eleven months of last FY.

The statistics of current FY provided by insurance regulatory authority Beema Samiti doesn’t include the premium earnings of Rastriya Beema Company, a government owned general insurance company.Ther are twenty non life insurance companies.

According to the data provided by the Samiti, Shikhar Insurance has managed to
achieve a growth of 20.55 pc which is above industry average.Its premium earning is Rs 3.46 billion by mid-June.

Sagarmatha Insurance Company stands at number two with the premium growth of 15.80 percent which is below the industry average.It has earned Rs. 2.26 billion during the period. With the premium growth by 18.91 percent NECO Insurance Company continues to stand at third position making an earning of Rs. 2.20 billion in premiums so far.

However, Siddhartha Insurance has been able to achieve a growth of 25.71 percent and collected Rs 2.2 billin premiums.
Similarly, NLG Insurance Company has earned Rs 1.89 billion premium. It’s premium growth is 25.16 percent during the first eleven months of current FY in comparison to last FY.

Similarly, Premier Insurance Rs 1.60 billion, IME General Insurance Rs 1.32 billion, Prabhu Insurance Rs 1.26 billion, and Himalayan General Insurance Rs 1.23 billion premium earning,While Prudential Insurance Rs 1.17 billion.  Lumbini General Insurance has earned Rs 1.15 billion, Azod Insurance Rs 1.14 billion and Nepal Insurance Rs 1.10 billion premium earning.

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