Kathmandu. Life insurance companies in the current fiscal year 2082. In the 10 months (July-April) of 83, both the number of life insurance premiums and the amount of surrender have decreased.
According to the Insurance Reflection published by the Nepal Insurance Authority, the number of life insurance policies has declined by 13.71 percent in the current fiscal year. A total of 76,477 insurance policies have been handed over during the period. Last fiscal year 2081. A total of 88,635 policies were surrendered by the insured during the same period of 2018-19.
As the number of surrenders decreases, the amount paid for surrenders has also decreased. In the last fiscal year, the life insurance company had paid a total of Rs 12.27 billion as dedication. As of mid-April of the current fiscal year, the insured have received payment of Rs 11.60 billion. The surrender amount decreased by 5.40 percent compared to the previous year.
According to NEA, there has been a slight decrease in the number of life insurance policies that have exceeded 6 months from the date of payment of renewal premium. The number of insurance policies in the review period decreased by 2.39 percent compared to the previous year.
In the first 10 months of the current fiscal year, 1,224,465 insurance policies have been issued. The remaining amount of the insurance policy stands at Rs 39.37 billion. In the same period of the previous year, there were 12,54,478 policies pending and the outstanding amount was Rs 36.86 billion. The amount outstanding in the review period has increased by 6.83 percent compared to the previous year.
