Kathmandu. KATHMANDU: With improvement in the business and financial health of IME Life, rating service provider Care Ratings Nepal has upgraded to ‘A-minus’ rating. Earlier, it was rated ‘Triple B’ but was upgraded to ‘A Minus’ rating after re-evaluation. <\/p>\n
Institutions with this rating are considered to be sufficiently safe and have low credit risk to meet their financial obligations on time. <\/p>\n
Fiscal Year 2081. The company’s total premiums increased by 21 percent to Rs 5.72 billion in FY18, outpacing the overall insurance market growth of 15 percent. Similarly, the current fiscal year 2082. In the first nine months of the current fiscal year, the total insurance premium has increased by 38 percent to Rs 5.16 billion. <\/p>\n
The company’s solvency margin has reached 2.59 times, well above the regulatory body’s technical requirement of 1.30 times, which is one of the best in the insurance sector. <\/p>\n
Its premium ratio is limited to 9.30 percent. Also, due to the control of net claim payment, the loss ratio is in FY 2080. It was an improvement from 25.64 percent in 2081. It has come down to 20.99 percent in 82. The life insurance fund has increased to Rs 17.14 billion in the first nine months of the current fiscal year. The total investment size of the company has reached Rs 20.75 billion. <\/p>\n
The upgrading of the company’s credit rating to ‘A minus’ is a very positive sign for the insured. This provides high assurance of claim payments, long-term protection and low risk, the possibility of attractive bonus rates, and the assurance of reinsurance for the insured. The company has made substantial reinsurance with Nepal Reinsurance Company and Himalayan Reinsurance Company. <\/p>\n
The company is rapidly digitizing its services. As financially strong companies invest more in technology, insured people will be able to get insurance policy renewal, claim processing and other services easily and quickly from the comfort of their home.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. KATHMANDU: With improvement in the business and financial health of IME Life, rating service provider Care Ratings Nepal has upgraded to ‘A-minus’ rating. Earlier, it was rated ‘Triple B’ but was upgraded to ‘A Minus’ rating after re-evaluation. Institutions with this rating are considered to be sufficiently safe and have low credit risk to […]<\/p>\n","protected":false},"author":5,"featured_media":149300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45077,45152,45159],"tags":[],"class_list":["post-304216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-corporate-2-en","category-life-insurance-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=304216"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304216\/revisions"}],"predecessor-version":[{"id":304217,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304216\/revisions\/304217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/149300"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=304216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=304216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=304216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}