Kathmandu: Insurance Companies have been able to earn total of Rs. 151.45 billion insurance premium. As per the data provided by the regulatory authority, Beema Samiti, both life and non-life insurers have been able to earn the sum in total during the last FY 2077/78.
According to Samiti, 19 life insurance companies have earned Rs 120.55 billion while 20 non-life insurance companies have earned Rs 30.90 billion.
Compared to the previous Fiscal Year 2076/77, the total premium of life insurance companies has increased by 28.71 percent in the last FY. Similarly, non-life insurance industry has witnessed an increase of 15.35 percent in insurance premium earning.
In the last fiscal year, life insurance companies have unpaid claim of Rs. 2.25 billion against 15,964 policies.Non-life insurance companies have unpaid claim of worth Rs. 20.14 billion against 86,440 insurance policies.
Similarly, based on the on-site monitoring conducted by the regulatory, it has been found that 63,331 insurance policies worth Rs 9.88 billion are lapsed in life insurance companies during last FY.