Kathmandu. In the last one year, non-life insurers seem to be moving aggressively to increase the workforce compared to life insurers.
Nepal Insurance Authority (NIA) has released the current fiscal year 2082. This is according to the data for the first nine months of March. According to the data, the total number of insurers has reached 12,394 as of mid-April this year. This number was 12,091 in the previous year. The number of employees increased by 2.51 percent in the review period compared to the previous year.
There are 6,099 employees in life insurance companies and 6,295 employees in non-life insurance companies as of mid-April this year. In the same period last year, 6,055 employees were working in life insurance companies and 6,036 employees of non-life insurers. The number of employees in life insurers and non-life insurers increased by 0.73 percent and 4.29 percent respectively compared to the previous year.
Similarly, 2 branches of the non-life insurance company have been added in the last one year. Previous fiscal year 2081. The number of branches of the non-life insurance company increased to 1,157 in the same period of the current fiscal year from 1,155 in the same period of the current fiscal year.
Life Insurance has a total of 1,841 branches. Last year, the bank had 1,844 branches. In this way, the branch office of the life insurer has decreased.
As of mid-April this year, the total number of branches of life and non-life insurance companies has reached 2,998. It was 0.03 percent lower than the same period last year. As of mid-April last year, there were 2,999 branch offices.
