Life Insurers accumulate Rs.102.42 billion in 3Q

Kathmandu. Life insurance companies have earned a total premium of above Rs.102.42 billion during first nine months of current fiscal year. According to the data unveiled by the Insurance Board(IB), the total premium income(TPI) of 19 life insurance companies is Rs.102 billion 428.9 million till the end of Chaitra(mid-April) of current fiscal year 78/79.

The life insurance companies have earned a TPI of Rs. 10.22 billion in Chaitra while the first premium income(FPI) remained Rs. 2.89 billion in the same month.

According to the data unveiled by the IB, Nepal Life Insurance Company has earned TPI of Rs 26.37 billion during the period. LIC Nepal is in the second place with TPI Rs 12.45 billion. National Life has earned a TPI Rs 10.13 billion while state-owned Rastriya Beema Sansthan’s TPI remained Rs 6.98 billion. The TPI of Union Life is Rs. 6.15 billion within the first nine months of FY 78/79.

During the same period, Asian Life Insurance has collected Rs 5.13 billion TPI. American Life Insurance(Met Life) has earned TPI of Rs. 4.34 billion. Accordingly, Citizen Life Rs. 3.5 billion, Prime Life Rs 3.89 billion and Surya Life Rs 3.63 billion 69 lakh, Sun Nepal Life has TPI of Rs. 3.383 billion and Reliable Nepal Life Rs. 2.99 billion.

Similarly, Jyoti Life has collected Rs 2.63 billion while IME Life has accumulated Rs. 2.38 billion, Gurans Life has earned Rs 2.33 billion TPI. Reliance Life Rs. 2.48 billion and Sanima Life Rs 1.73 billion. Prabhu Life has managed to earn Rs 1.47 billion and Mahalakshmi Life Rs 1.84 billion.

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