Kathmandu.: Out of 20 operational non-life insurers, 18 non-life insurance companies have earned net insurance premium of Rs. 3.92 billion in the first quarter of current FY 2078/79. The companies had earned net insurance premium of Rs. 3.49 billion in the corresponding period of the last fiscal year.
Compared to the corresponding period of the last fiscal year, the net premium income of companies is 12 percent higher. During this period, National Insurance and Oriental Insurance Company have not publish their quarterly financial statements yet.
NECO Insurance Company is among the companies earning the highest net premium during the period under review. The company, which earned Rs 432.8 million in net premium in the corresponding period of the last fiscal year, has managed to collect Rs 493.5 million in net premium during the review period. The company’s own premium income is 14 percent higher than the same period last fiscal year.
Similarly, Shikhar Insurance Company is in the second place. The company has earned net insurance premium of Rs. 445 million during the period. The company had earned net insurance premium of Rs. 434 million in the corresponding period of the previous fiscal year. Compared to the same period of the last fiscal year, the company’s net premium income is 2 percent higher.
Everest Insurance Company is the third largest earner of net insurance premiums. The company has managed to earn Rs.
Three companies’ net insurance premium earnings declined:
In the first quarter of the current fiscal year, the net premium income of three companies has decreased. Prudential Insurance Company’s net premium income declined by 13 percent to Rs 123.4 million compared to the same period last fiscal year. The premium income of Ajod Insurance Company has decreased by 10 percent compared to the same period of last fiscal year. During this period, the company has earned net insurance premium of Rs. 103.5 million.
Similarly, the general insurance company’s net premium income decreased by 25 percent compared to the same period of the previous fiscal year. During this period, the company has earned net insurance premium of Rs. 72.8 million.
In the first quarter of the current fiscal year, NLG Insurance Company has earned Rs. 333 million net insurance premium. The company’s net premium income is 57 percent higher than the same period last fiscal year. Siddhartha Insurance has increased its net insurance premium income by 21 percent and earned Rs.305.9 million. Premier Insurance has earned a net premium of Rs. 259.8 million.
Similarly, Prabhu Insurance Company paid Rs. 236.5 million, United Insurance Company Rs. 214 million, Nepal Insurance Company Rs. 203.5 million, Lumbini General Insurance Rs. 199.6 million, IME General Rs. 163.7 million and Everest Insurance Company Rs. 153.1 million. They have earned Rs.
Companies earning less than 100 million premiums:
Himalayan General Insurance Company has earned net insurance premium of Rs 87.9 million in the first quarter of the current fiscal year. Rastriya Bima Company has earned net insurance premium of Rs 73.6 million. Sanima General Insurance Company has earned a net insurance fee of Rs 65.5 million.
