Kathmandu: The life insurance fund of life insurance companies has crossed Rs. 405.78 billion in Q1 of current financial year. In the corresponding period of the last fiscal year, the life insurance fund of the companies was Rs. 321.26 billion.
The size of life insurance fund of companies has grown by 26.31 percent as compared to Q1 of last FY 2077/78.
Life insurance funds are considered as the backbone for any life insurance company. The size of life insurance fund of Reliance Life has increased by 116 percent which is the highest in the industry.
During this period, Nepal Life Insurance has the largest life insurance fund of Rs.118.75 billion which accounts to 29 percent of the industry’s life fund’s size. The size of the company’s life insurance fund has increased by 25.25 percent as compared to the same period last fiscal year.
LIC Nepal has the second largest life fund of Rs. 83.40 billion. The company had Rs. 70.73 billion in the life insurance fund in the corresponding period of the last fiscal year. In the third position, National Life Insurance Company has maintained a fund of Rs.44.89 billion which is 24.90 percent higher than the Q1 of last fiscal year.