FPI of Life Insurers Shrinks By 20 pc In The First Month of Current FY

Kathmandu: The first premium income(FPI) generated from new business has shrunk by 20 percent during the first month of current fiscal year. According to the data published by the Insurance Board, 19 life insurers could not maintain their last year’s achievement in during the month of Sawan this year.

During the month of Sawan of current FY 2079-80, the TPI remained Rs. 2.20 billion while it was Rs.2.74 billion during last fiscal year 2079-80. The FPI of Nepal Life Insurance has declined to Rs.43 crore 13 lakh from Rs. 58 crore. National Life Insurance has earned Rs. 29 crore 88 lakh during last month.

Sun Nepal, which is in third place, has earned Rs.177 million FPI. Jyoti Life has earned Rs.132.5 million FPI. Citizen Life has earned Rs.122.9 million. The FPI or Surya Life is Rs. 121.3 million while LIC has earned Rs.113 million. Met Life Insurance Rs.108.3 million, Reliable Nepal Rs.107.7 million, Union Life has earned Rs.107.1 million.

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