General Insurers’ TPI Increase by 5.74 pc, Shikhar Insurance Witnessed Nominal Growth

Kathmandu: General insurers achieved a minor growth of 5.74 percent in the total insurance premiums income during the first seven months of the current financial year 2079-80. General insurers earned Rs. 23.06 billion in total insurance premiums(TPI) in the review period against Rs. 21.81 billion in the same period of the last financial year 2078-79.

General insurers sold 16,36,284 insurance policies by the end of Magh 2079. The total number of policies issued by the insurers by the end of Magh 2078 was 16,95,788.

According to the data published by the Nepal Insurance Authority, Shikhar Insurance Company earned Rs. 2.983 billion TPI. The insurer’s TPI was Rs.2.98 billion during the same period of last FY. There was no significant difference in the TPI of Shikhar Insurance. Neco Insurance earned Rs. 1 billion 750 million while its TPI was Rs.1.77 billion during the same period of last FY.

Rastriya Beema Company(RBC) earned Rs. 1 billion 690 million. The TPI of RBC was Rs.739.13 million during the same period of last FY. The state-owned general insurer has been able to improve its business volume as compared to last FY.

The TPI of the general insurers was Rs. 2 billion 980 million in the month of Magh 2079. The FPI of general insurers in Magh 2078 was Rs. 2.72 billion only.

Similarly, Himalayan Everest Rs. 1.69 billion, Sagarmatha Insurance Rs. 1.68 billion, Siddharth Insurance Rs. 1.52 billion, NLG Insurance Rs. 1.40 billion, Sanima GIC Rs. 1.19 billion, Premier Insurance Rs. 1.17 billion, Lumbini General Insurance Rs. 1.12 billion, Ajod Insurance earned Rs.1.08 billion total insurance premiums by the end of Magh 2079. IME General Insurance earned Rs. 1.05 billion in total insurance premiums.

Prabhu Insurance Company earned Rs. 92.59 crores, Nepal Insurance Rs. 88.98 crores, Oriental Insurance Rs. 84.06 crores, Prudential Insurance Rs. 76.45 crores, and United Insurance Rs. 68.4 crore insurance premiums by the end of Magh 2079.

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