Life Insurers earn over Rs.28 billion FPI in 3Q, Citizen Life Continues to Progress

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Kathmandu: Life insurance companies have earned Rs. 28 billion 898.6 million First Premium Income(FPI) in the 3Q of current fiscal year. According to the data unveiled by the Insurance Board(IB), these companies have earned the FPI of Rs 2.98 billion in the month of Chaitra alone(mid March to mid-April) alone. The renewal premium income remained Rs. 73.53 billion in 3Q.

According to the IB, Nepal Life Insurance has earned the highest premium till mid-April. The company has earned a premium of Rs 4.83 billion during the period. National Life has earned Rs. 3.22 billion in premiums so far. Citizen Life Insurance has earned Rs. 2.35 billion in premiums during the period. Since, last few months, Citizen Life Insurance has left many life insurers behind in the race of FPI.

Similarly, LIC Nepal has earned the FPI of Rs 1.94 billion. Sun Nepal Life Rs 1.86 billion, Reliable Nepal Life Rs 1.82 billion, Union Life Rs 1.72 billion, Asian Life Rs. 1.52 billion, Surya Life Rs. 1.40 billion.

Similarly, Jyoti Life has earned Rs. 1.26 billion first premium during this period. Met Life has earned the first premium of Rs 1.12 billion.

During this period, IME Life has earned a premium of Rs. 988 million. Prime Life has earned the first premium of Rs 971.8 million. Reliance Life has earned Rs 812.9 million in premiums. Sanima Life has earned Rs. 798.1 million premiums. Prabhu Life has earned Rs.756.9 million first insurance premiums. Rastriya Beema Sansthan has earned 747.2 million first premiums. Mahalakshmi Life has earned Rs. 551 million FPI. Similarly, Gurans Life has earned Rs.502.6 million FPI in 3Q of current fiscal year 2078/79.

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