Life Insurers Earn Rs. 110 bn in First 10 Months of Current FY

Kathmandu: Life insurance companies have managed to collect a total of Rs. 110 billion total insurance premiums by the end Baishakh in the current fiscal year. With two months left in the current fiscal year, life insurance companies have earned Rs 31.26 billion first premium and Rs 79.13 billion renewal premium. Currently, there are 19 life insurers in Nepal.

Nepal Life has earned the highest total insurance premium of Rs. 28.35 billion in the month of Baishakh. The company has earned Rs 5.21 billion in the first premium during this period and Rs 23.13 billion in renewal.

Similarly, the second-ranked Life Insurance Corporation Nepal (LIC Nepal) has managed to collect a total premium of Rs 13.52 billion by mid-April. The first premium income is Rs 2.15 billion and the renewal fee is Rs 11.36 billion.

National Life, which is ranked third, also earned Rs 10.98 billion in insurance premiums during the review period. The company has managed to earn Rs 7.48 billion for renewal while earning Rs 3.49 billion for the first premium.

In the fourth place, the state-owned Rastriya Beema Sansthan has earned Rs 7.24 billion TPI, while the first premium was Rs 791.6 million and the renewal premium was Rs 6.44 billion. Union Life has earned Rs 6.52 billion in insurance premiums till end of Baisakh, while the first side has Rs 1.82 billion and the renewal side has Rs 4.70 billion.


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