Non-life Insurers invests Rs.243 mn in Priority Sector

Kathmandu: Non-life insurance companies have invested Rs. 243 million in agro-tourism and water resources in the third quarter of the current fiscal year. Out of the total investment of non-life insurance companies, Rs 5.15 billion has entered the stock market. It accounts 9.75 percent of the total investment of insurance companies of total Rs 52.79 billion investment.

According to the data unveiled by the Insurance Board, 20 non-life insurance companies have invested Rs. 52.79 billion till third quarter.  Out of the total investment, 82.76 percent or Rs. 43.69 billion has been invested in banks and financial institutions permitted by NRB. They have invested Rs. 37.42 billion in Class A commercial banks, Rs 5.36 billion in Class B development banks and Rs. 896.3 million in Class C finance companies.

Similarly, Rs. 243 million has been invested in agro-tourism and water resources and Rs. 3.70 billion under other investments.

Out of that, Shikhar Insurance has invested Rs. 898.9 million in the stock market. Similarly, Sagarmatha Insurance has invested Rs. 469.2 million, NECO Insurance Rs. 441 million and Siddhartha Insurance Rs. 411.3 million.

Although the Insurance Board has expanded the area of ​​investment by implementing investment guidelines, non-life insurance companies have not invested in real estate and term deposits of Nepal Infrastructure Bank.

Comment Your Feedback :

Related News