Life insurance gross premiums up nearly by 12 percent in Q3

Kathmandu: Life insurers posted nearly 12 percent growth in net direct premium underwritten in the first three quarter of current fiscal year 2080-81(2023-24). The unaudited financial report published by the life insurers state that a total of NPR 109 billion 6175 million net premium collected by the end of third quarter.

Net premium underwritten of the life insurers in Chaitra end(mid April) was NPR 97 billion 653.3 million in the last FY 2079/80(2022-23).
Industry leader, Nepal Life Insurance collected NPR 29 billion 120 million while National Life Insurance remained at second position with a total GWP of NPR 12 billion 620 million. Himalayan Life Insurance collected NPR 12 billion 20 million premiums.
Among other key insurer, premium of LIC Nepal was NPR 12 billion 860 crore whereas state owned life insurer Rastriya Jivan Beema Company Ltd earned NPR 7690 million. Surya Jyoti Life Insurance collected NPR 6370 million while Asian Life Insurance Company earned NPR 5610 million.

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